Travers Smith LLP is advising UK wealth manager Brewin Dolphin Holdings plc ("Brewin Dolphin") on its recommended £1.6bn takeover by RCB Wealth Management ("RBC"), an indirect subsidiary of Royal Bank of Canada.
Brewin Dolphin is a listed FTSE 250 company with £55bn assets under management as at 28 February 2022.
The acquisition represents an exciting strategic opportunity for RBC to combine its existing wealth business in the UK and the Channel Islands with Brewin Dolphin, providing a platform to significantly transform RBC's business in the region. Following the acquisition RBC will have a leading position in the UK and North America.
The Travers Smith team was led by Corporate M&A and ECM Partner Adrian West and Director Neal Watson, supported by Senior Associate James Lansdown, Associate Shireen Shaikh and Trainee Alex Holland. The team also included Head of Incentives & Remuneration Mahesh Varia and Senior Associate Claire Prentice, Head of Competition Nigel Seay and Senior Associate Alana Tinkler, and Financial Services & Markets Partner Phil Bartram and Senior Counsel Samuel Brewer.
The transaction is expected to complete in Q3 2022.