Canada Calling

NJBIZ, Mar 19, 2007

J. B. Hanauer & Co., a 76-year-old Parsippany firm that specializes in fixed-income and wealth-management services, was bought last week by the Royal Bank of Canada's U.S. brokerage subsidiary RBC Dain Rauscher of Minneapolis. Terms were not disclosed. J. B. Hanauer manages about $10 billion in assets and has 300 employees across five offices including three in Florida and one in Philadelphia.

J. B. Hanauer will be BC Dain Rauscher's sixth acquisition in the United States in the past year; the others include financial services firms in Atlanta, New York City and Wilmington, Del. It has seven offices in New Jersey, including Florham Park, Princeton and Shrewsbury. The deal should be finalized in May.