Brewin Dolphin

Last updated
RBC Brewin Dolphin
FormerlyBrewin Dolphin
Company type Subsidiary
Industry Investment management
Founded1762;262 years ago (1762)
Headquarters London, England, UK
Key people
Robin Beer (CEO)
RevenueIncrease2.svg £405.9 million (2021) [1]
Increase2.svg £74.0 million (2021) [1]
Increase2.svg £55.3 million (2021) [1]
AUM Increase2.svg £51.7 billion (2022) [2]
Parent Royal Bank of Canada (2022-present)
Website www.brewin.co.uk

RBC Brewin Dolphin (the trading name for Brewin Dolphin Holdings) is one of the largest British wealth management [3] firms with over 30 offices throughout the UK, Jersey and Ireland, and c. 2,000 employees. [4] It provides investment management and financial planning services to individuals, companies, intermediaries and charities.

Contents

On 27 September 2022, Brewin Dolphin was acquired by the Royal Bank of Canada; the company has since been known as "RBC Brewin Dolphin". [5]

History

The business can trace its origins back to the establishment of the stockbroking firm of John Dawes, a founder of the London Stock Exchange, in 1762. [6] His firm evolved through many partner changes to become Wontner, Dolphin & Francis in 1970. [6] In 1974 Brewin & Co merged with Wontner, Dolphin & Francis to form Brewin Dolphin. The business was incorporated in 1987 and acquired by Scandinavian Bank the same year. It was then the subject of a management buy-out from Scandinavian Bank in 1992 and was first listed on the London Stock Exchange in 1994. [7]

It acquired Bell Lawrie, a Scottish firm of investment managers, in 1993. [8] It went on to buy Wise Speke, an investment manager operating in the North of England, in 1998 [9] and Popes, a firm based in Stoke-on-Trent, in 2002. [10] It then acquired Duncan Lawrie Asset Management, a firm operating in London, in December 2016 [11] and Investec Wealth Management, a firm operating in Ireland, in October 2019. [12] Other acquisitions include IFA firms Aylwin (2018), [13] Epoch Wealth Management (2019), [14] and actuarial consultancy Mathieson Consulting (2019). [15]

In March 2022, RBC made a recommended offer for the company worth £1.6 billion, subject to regulatory and shareholder approval. [16] [17] The necessary approvals were secured in September 2022. [18]

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References

  1. 1 2 3 "Annual Report 2021" (PDF). Brewin Dolphin. Retrieved 16 February 2022.
  2. ↑ "RBC Brewin Dolphin offers investment management via expat advisers". RBC Brewin Dolphin Group. Retrieved 27 December 2023.
  3. ↑ "Investopedia definition of wealth management". Archived from the original on 2002-06-13.
  4. ↑ "Annual Report 2020" (PDF).
  5. ↑ "Royal Bank of Canada completes acquisition of Brewin Dolphin". RBC Wealth Management. Retrieved 2022-12-14.
  6. 1 2 Archer, Angela page 36
  7. ↑ "Brewin Dolphin to seek listing on stock market". The Independent. 12 April 1994. Retrieved 16 April 2017.
  8. ↑ "Bell Lawrie to rebrand as Brewin Dolphin". Money Marketing. 17 November 2008. Retrieved 16 April 2017.
  9. ↑ "Wise Speke to take on Brewin Dolphin name". Citywire. 10 December 2007. Retrieved 16 April 2017.
  10. ↑ "Brewin Dolphin Securities acquires Popes". Birmingham Post. 8 May 2002. Retrieved 16 April 2017.
  11. ↑ "Brewin Dolphin acquires Duncan Lawrie Asset Management". Money Marketing. 19 December 2016. Retrieved 28 February 2021.
  12. ↑ "Brewin Dolphin completes €44m deal for Investec arm". Irish Times. 1 November 2019. Retrieved 28 February 2021.
  13. ↑ "Brewin Dolphin acquires IFA firm Alywin". IFA Magazine.
  14. ↑ "Brewin opens in Bath following 19m wealth deal". Citywire Wealth Manager.
  15. ↑ "Brewin Dolphin acquires actuarial consulting firm".
  16. ↑ "RBC Wealth Management to Buy Brewin Dolphin for £1.6 Billion". Bloomberg News . 31 March 2022. Retrieved 14 December 2022.
  17. ↑ "Royal Bank of Canada to buy Brewin Dolphin for £1.6bn". Financial Times. 31 March 2022. Retrieved 4 April 2022.
  18. ↑ "RBC wins final regulatory nod for £1.6bn Brewin Dolphin takeover". Private Banker International. 14 September 2022. Retrieved 26 September 2022.

Further reading

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