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Canadian Bank to Buy Australian Investment Manager
The deal gives Royal Bank of Canada full ownership of a manager with A$18 billion in assets and about 75 employees.
- On Monday, Royal Bank of Canada announced it signed a deal to acquire Australian investment manager Yarra Capital Management Ltd, aiming to strengthen its position as a leading global asset manager.
- RBC Global Asset Management CEO Damon Williams said Yarra's capabilities are "complementary to our asset management business," supporting the bank's expansion in Australia and the Asia-Pacific region.
- Founded in 2017, the Melbourne-based firm manages approximately A$18 billion in assets. Executive Chairman Dion Hershan said, "The strong cultural alignment between Yarra and RBC is very clear."
- The transaction is expected to close in the first quarter of 2027, with RBC noting no significant impact to its common equity Tier 1 ratio or future run rate earnings.
- RBC manages approximately $834 billion in assets globally with more than 19 million clients across Canada, the U.S. and 27 other countries, and this acquisition helps the bank diversify market share beyond North America.
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Royal Bank of Canada announces agreement to acquire Yarra Capital Management
/PRNewswire/ -- Royal Bank of Canada (RBC) (TSX: RY) (NYSE: RY) today announced it has entered into an agreement to acquire Yarra Capital Management Limited...
·Chicago, United States
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Coverage Details
Total News Sources18
Leaning Left6Leaning Right1Center4Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 36%
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