243:
45:
639:
235:
268:
649:
258:
In 1981, Inter-Regional
Financial Group acquired Rauscher Pierce Refsnes, which at the time was the largest brokerage firm in Texas. Rauscher was established in 1933 as a spinout from the Mercantile National Bank, based in Dallas. After the acquisition of Rauscher Pierce, the business continued to
186:
Dain
Rauscher Wessels was one of the nation's largest full-service securities firms with 1,300 private client and institutional investment executives, 3,600 employees and in 1998 revenues of more than $ 740 million. The company serviced individual retail investors primarily in the western U.S., and
216:
Wheelock
Whitney was named the head of Dain in 1963 and steered the firm through aggressive growth in the 1960s leading to its initial public offering in 1972. In 1967, Dain merged with Kalman & Co. and then Quail & Co. creating Dain, Kalman & Quail, Inc. with 17 offices across the
279:
In 1997, Dain
Rauscher was formed from the merger of Dain Bosworth and Rauscher Pierce Refsnes Inc., both of which were owned by Interra Financial Inc. The combined firm had more than 1,200 brokers and institutional salespeople, focused primarily on the midwestern United States.
204:
In 1929, J.M. Dain founded J.M. Dain & Co., which would form the core of what would become Dain
Rauscher Wessels, in Minneapolis. Dain had moved to Minneapolis in 1922 to represent a Chicago investment firm but by 1929 had decided to start his own firm. However, with the
221:
in
Minneapolis was renamed the Dain Tower. Dain also acquired a number of regional brokerages including J. Cliff Rahal & Co. (1969), Platt, Tschudy & Co. (1970), Woodward-Elwood (1972) and Ralph W. Davis & Co. (1972). In 1972, Dain was listed on the
255:, Inter-Regional Financial Group was formed to hold the two businesses as separate entities. In 1979 management decided to merge the two businesses creating one of the leading brokerage firms in the midwest, under the brand Dain Bosworth.
250:
In 1973, Dain, Kalman & Quail merged with
Bosworth, Sullivan & Co., which itself was created through the merger of Bosworth, Chanute, Loughridge & Co. and Sullivan & Co. Following the merger, a new
309:
While the Dain
Rauscher name was initially used in a number of RBC businesses after the acquisition, the brand was slowly phased out over time. In 2008, RBC changed the name to RBC Wealth Management.
688:
290:
in 2000. Shortly after the acquisition of Dain
Rauscher, Royal Bank of Canada acquired Tucker Anthony Sutro, an independent brokerage and asset management firm, formed from the combination of
673:
407:
283:
In 1998 Dain
Rauscher acquired the investment banking firm Wessels, Arnold & Henderson and restructured its Equity Capital Markets unit to become Dain Rauscher Wessels.
678:
440:
191:
and other major securities exchanges, as well as the Securities Investor Protection Corp. The company was previously traded on the NYSE under the symbol DRC.
698:
368:
693:
380:
404:
433:
487:
187:
capital markets and correspondent clients in select markets throughout the nation. The company's broker-dealer was a member of the
344:
463:
652:
603:
683:
642:
426:
206:
163:. The firm traced its origins to a number of smaller regional securities firms founded in the 1920s and 1930s.
624:
520:
392:
530:
223:
188:
298:, a San Francisco based firm founded in 1858. The Tucker Anthony and Sutro branches were integrated into
175:
121:
525:
469:
449:
287:
272:
167:
107:
31:
504:
318:
213:
and into the 1940s. By the late 1950s, J.M. Dain had grown to 75 employees across eight offices.
152:
242:
582:
356:
117:
587:
475:
210:
411:
252:
63:
552:
295:
291:
209:, Merrill Cohen took control of Dain & Co. in 1933 and helped steer it through the
17:
44:
667:
303:
234:
608:
30:"RBC Dain Rauscher" redirects here. For its successor, RBC Wealth Management, see
271:
RBC Dain Rauscher logo in use after the acquisition of Dain Rauscher Wessels by
267:
156:
132:
218:
174:. In 2008, RBC ended the usage of the Dain Rauscher brand. It is now known as
160:
148:
136:
67:
481:
418:
266:
241:
233:
263:
Dain Rauscher Wessels and the acquisition by Royal Bank of Canada
357:
The Answer is Money:Why Texas' Biggest Broker Agreed to a Merger
422:
217:
upper-midwestern U.S. It was also at this point that the
395:. Minneapolis / St. Paul Business Journal, March 3, 2008
369:
INTERRA FINANCIAL PLANS TO MERGE ITS 2 BROKERAGE UNITS
689:
Financial services companies disestablished in 2008
617:
596:
575:
561:
542:
513:
497:
456:
381:
ROYAL BANK OF CANADA IS BUYING TUCKER ANTHONY SUTRO
128:
113:
102:
94:
73:
59:
51:
259:operate under its own brand until the mid-1990s.
674:Financial services companies established in 1929
340:
338:
336:
334:
230:Dain Bosworth and Inter-Regional Financial Group
166:In 2000, Dain Rauscher Wessels was acquired by
302:in 2002. In 2007, RBC Dain Rauscher acquired
27:American brokerage and investment banking firm
434:
8:
170:and operated as a subsidiary under the name
37:
441:
427:
419:
294:, a Boston-based firm founded in 1892 and
43:
36:
330:
679:Defunct companies based in Minneapolis
82:Dain, Kalman & Quail, Inc. (1967)
7:
648:
306:, a brokerage firm founded in 1931.
699:2008 disestablishments in Minnesota
371:. New York Times, October 15, 1997
246:Rauscher Pierce Refsnes logo c.1983
405:RBC Wealth Management: Our History
286:Dain Rauscher was acquired by the
25:
488:Royal Bank of Trinidad and Tobago
383:. New York Times, August 2, 2001
345:Dain Rauscher Corporation History
694:1929 establishments in Minnesota
647:
638:
637:
359:. Texas Monthly, November 1981
604:RBC Convention Centre Winnipeg
478:(acquired and merged into RBC)
1:
393:RBC drops Dain Rauscher name
535:RBC Global Asset Management
238:Rauscher Pierce logo c.1972
715:
207:stock market crash of 1929
79:J.M. Dain & Co. (1929)
29:
633:
42:
625:Royal Bank of Canada v R
521:BlueBay Asset Management
531:RBC Dominion Securities
224:New York Stock Exchange
189:New York Stock Exchange
18:Rauscher Pierce Refsnes
276:
247:
239:
549:RBC Wealth Management
270:
245:
237:
176:RBC Wealth Management
145:Dain Rauscher Wessels
122:RBC Wealth Management
38:Dain Rauscher Wessels
684:Royal Bank of Canada
526:RBC Direct Investing
470:Royal Bank of Canada
450:Royal Bank of Canada
288:Royal Bank of Canada
273:Royal Bank of Canada
168:Royal Bank of Canada
108:Royal Bank of Canada
88:Dain Rauscher (1997)
85:Dain Bosworth (1979)
32:Royal Bank of Canada
505:RBC Capital Markets
347:. Funding Universe
39:
464:City National Bank
410:2010-06-13 at the
277:
248:
240:
153:investment banking
661:
660:
583:Place Ville Marie
543:Wealth management
414:(company website)
300:RBC Dain Rauscher
172:RBC Dain Rauscher
142:
141:
118:RBC Dain Rauscher
16:(Redirected from
706:
651:
650:
641:
640:
588:Royal Bank Plaza
498:Investment banks
476:HSBC Bank Canada
443:
436:
429:
420:
396:
390:
384:
378:
372:
366:
360:
354:
348:
342:
211:Great Depression
124:(2008 - present)
47:
40:
21:
714:
713:
709:
708:
707:
705:
704:
703:
664:
663:
662:
657:
629:
613:
592:
571:
557:
538:
509:
493:
452:
447:
417:
412:Wayback Machine
400:
399:
391:
387:
379:
375:
367:
363:
355:
351:
343:
332:
327:
315:
296:Sutro & Co.
265:
253:holding company
232:
202:
197:
184:
64:Investment bank
35:
28:
23:
22:
15:
12:
11:
5:
712:
710:
702:
701:
696:
691:
686:
681:
676:
666:
665:
659:
658:
656:
655:
645:
634:
631:
630:
628:
627:
621:
619:
615:
614:
612:
611:
606:
600:
598:
594:
593:
591:
590:
585:
579:
577:
573:
572:
570:
569:
565:
563:
559:
558:
556:
555:
553:Brewin Dolphin
550:
546:
544:
540:
539:
537:
536:
533:
528:
523:
517:
515:
511:
510:
508:
507:
501:
499:
495:
494:
492:
491:
485:
479:
473:
467:
460:
458:
454:
453:
448:
446:
445:
438:
431:
423:
416:
415:
401:
398:
397:
385:
373:
361:
349:
329:
328:
326:
323:
322:
321:
314:
311:
292:Tucker Anthony
264:
261:
231:
228:
201:
198:
196:
193:
183:
180:
155:firm based in
140:
139:
130:
126:
125:
115:
111:
110:
104:
100:
99:
96:
92:
91:
90:
89:
86:
83:
80:
75:
71:
70:
61:
57:
56:
53:
49:
48:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
711:
700:
697:
695:
692:
690:
687:
685:
682:
680:
677:
675:
672:
671:
669:
654:
646:
644:
636:
635:
632:
626:
623:
622:
620:
616:
610:
607:
605:
602:
601:
599:
595:
589:
586:
584:
581:
580:
578:
574:
568:RBC Insurance
567:
566:
564:
560:
554:
551:
548:
547:
545:
541:
534:
532:
529:
527:
524:
522:
519:
518:
516:
512:
506:
503:
502:
500:
496:
489:
486:
483:
480:
477:
474:
471:
468:
465:
462:
461:
459:
455:
451:
444:
439:
437:
432:
430:
425:
424:
421:
413:
409:
406:
403:
402:
394:
389:
386:
382:
377:
374:
370:
365:
362:
358:
353:
350:
346:
341:
339:
337:
335:
331:
324:
320:
317:
316:
312:
310:
307:
305:
304:J. B. Hanauer
301:
297:
293:
289:
284:
281:
274:
269:
262:
260:
256:
254:
244:
236:
229:
227:
225:
220:
214:
212:
208:
200:Early history
199:
194:
192:
190:
181:
179:
177:
173:
169:
164:
162:
158:
154:
150:
146:
138:
134:
131:
127:
123:
120:(2000-2008),
119:
116:
112:
109:
105:
101:
97:
93:
87:
84:
81:
78:
77:
76:
72:
69:
65:
62:
58:
54:
50:
46:
41:
33:
19:
609:RBC Heritage
597:Sponsorships
457:Retail banks
388:
376:
364:
352:
308:
299:
285:
282:
278:
257:
249:
215:
203:
185:
171:
165:
144:
143:
129:Headquarters
106:Acquired by
52:Company type
653:WikiCommons
618:Legal cases
490:(Caribbean)
182:The company
157:Minneapolis
133:Minneapolis
74:Predecessor
668:Categories
325:References
219:Rand Tower
576:Buildings
562:Insurance
514:Investing
319:RBC Plaza
161:Minnesota
149:brokerage
137:Minnesota
114:Successor
68:Brokerage
643:Category
482:RBC Bank
472:(Canada)
408:Archived
313:See also
60:Industry
55:Acquired
275:in 2000
195:History
95:Founded
147:was a
484:(US)
466:(US)
151:and
103:Fate
98:1998
670::
333:^
226:.
178:.
159:,
135:,
66:,
442:e
435:t
428:v
34:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
