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Brewin Dolphin

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RBC Brewin Dolphin
FormerlyBrewin Dolphin
Company typeSubsidiary
IndustryInvestment management
Founded1762; 262 years ago (1762)
HeadquartersLondon, England, UK
Key people
Robin Beer (CEO)
RevenueIncrease £405.9 million (2021)[1]
Increase £74.0 million (2021)[1]
Increase £55.3 million (2021)[1]
AUMIncrease £51.7 billion (2022)[2]
ParentRoyal Bank of Canada (2022-present)
Websitewww.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.

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

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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]

References

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  1. ^ a b c "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. ^ a b 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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  • Archer, Angela The Making of Brewin Dolphin, Newport News, 2000 ISBN 0-9514601-2-9
  • Hamilton, Kirstie Celebrating 250 Years, Wardour, 2012
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