RBC Dominion Securities
RBC Dominion Securities is the brand used by Royal Bank of Canada for full service brokerage services primarily in Canada. It forms part of RBC's Wealth Management division.
Dominion Securities was established in Toronto in 1901 as Dominion Securities Corporation Limited by George Albertus Cox and Edward Rogers Wood. The firm originally focused on government and municipal bonds but diversified into war bonds during World War I. By the 1950s, it had developed a network with branches in every major city in Canada.
The firm grew through acquisitions and gradually acquired by RBC:
- 1984 acquires Pitfield, Mackay, Ross Limited
- 1988 Royal Bank acquires 67% stake in Dominion Securities
- 1989 acquires Pemberton Willoughby Investment Corporation
- 1996 acquires Richardson Greenshields of Canada Limited
- 1996 RBC acquires 100% stake
- 2001 acquires US-based Dain Rauscher and Tucker Anthony Sutro & Company
Note about RBC corporate structure
RBC Dominion Securities Inc is the legal name of the company from which the full service brokerage activities operate. The subsidiary, among others, is also used by the RBC Capital Markets division. RBC Dominion Securities Inc has been 100% owned by the Royal Bank of Canada since 1996.
- James Henry Gundy and George Herbert Wood - former Dominion Securities brokers left in 1905 form Wood Gundy