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Normandin Beaudry

The sale of RT Capital Management

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There, in black and white

NB Bulletin Vol. 4 N. 3. March 2001

In a press release issued March 2¸ 2001¸ the Royal Bank of Canada announced its intent to sell its subsidiary¸ RT Capital Management (RT Capital)¸ Canada´s largest investment manager of institutional funds with more than $30 billion under management.

This transaction stems from an initiative by the management of RT Capital¸ which expressed a desire to find a partner specialized in the management of U.S. and international equities in order to offer clients a more complete line of foreign investment services. According to information collected so far from RT Capital management¸ they are looking for a partner that does not offer significant investment services in Canada. Putnam Lovell Securities has been retained to find the new partner.

So far¸ about ten firms have shown an interest in buying RT Capital. The objective of RT Capital management is to conclude a deal within the next two months.

 

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