RBC completes acquisition of Richardson Barr & Co.

    NEW YORK and HOUSTON, Aug. 5 /CNW/ - RBC (RY on TSX and NYSE) today
announced it has completed the acquisition of Richardson Barr & Co., a leading
Houston-based energy advisory firm specializing in acquisitions and
divestitures (A&D) in the exploration and production (E&P) sector. The new
entity will be renamed RBC Richardson Barr. Terms of the transaction were not
    A&D firms specialize in assisting public and private companies in the
divestiture of their oil and gas properties. The merger gives RBC Richardson
Barr the ability to provide its private company clients a complete range of
financing and M&A support, as well as ready access to RBC's strong public
company relationships, solid financial resources, and expanded product
capabilities in equity, high yield, loan syndications, private placement, and
    "Clients of RBC Richardson Barr will continue to receive the same high
quality of service they've come to rely on, and will now also have access to
the full range of capital markets products and services that RBC offers," said
Scott Richardson, co-founding principal of Richardson Barr.
    The acquisition further strengthens RBC's top-tier North American energy
practice and provides added value to its clients in the E&P sector through the
combination of RBC's capital markets capabilities and public company
relationships, and RBC Richardson Barr's additional specialized market
intelligence and valuation capability, robust transaction pipeline, and
proprietary ideas and insights in the A&D sector. The deal also helps enhance
RBC's private company relationships and advisory services in the E&P sector.
    "In acquiring Richardson Barr, we are able to offer our clients 'best in
class' services from a firm that is a well-respected leader in the E&P
sector," said Peter de Vos, RBC Capital Markets' head of U.S. Investment
Banking. "We feel this will be a terrific partnership that will further
enhance our position as one of the leading middle market investment banks in
the United States."
    The transaction is the latest in a series of deals completed by RBC as it
continues to build its presence in the United States and globally. RBC has
announced 11 acquisitions in the U.S. in the past two years, including
acquisitions by RBC Capital Markets of Daniels & Associates, the nation's most
active M&A advisor to the cable, telecom, broadcast and Internet services
industries; Carlin Financial Group, a broker-dealer known for its proprietary
trade execution platform; and Seasongood & Mayer, the number one ranked public
finance firm in Ohio.

    About RBC Capital Markets

    RBC Capital Markets is the corporate and investment banking arm of RBC
and is active globally in debt origination, sales and trading, foreign
exchange, infrastructure finance, structured products, metals and mining, and
energy. Its North American platform includes a significant U.S. middle market
investment banking franchise and leading equity, underwriting, sales, trading
and research businesses. Bloomberg ranks the firm as the 12th largest
investment bank globally.
    RBC Capital Markets' Global Energy Group provides advice and raises
capital for the energy and utilities sectors around the world, including
exploration & production, oil field services, pipelines, master limited
partnerships (MLPs), and refining and marketing. The firm provides award
winning energy research that covers more than 200 energy companies around the
world. RBC is one of the most experienced banks in the world in oils sands
financing and is a Nomad on the Alternative Investment Market (AIM).

    About RBC

    Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate
under the master brand name of RBC. We are Canada's largest bank as measured
by assets and market capitalization and one of North America's leading
diversified financial services companies. We provide personal and commercial
banking, wealth management services, insurance, corporate and investment
banking and transaction processing services on a global basis. Our corporate
support team enables business growth with expert professional advice and
state-of-the art processes and technology. We employ approximately 75,000
full- and part-time employees who serve more than 16 million personal,
business, public sector and institutional clients throughout offices in
Canada, the U.S. and 45 other countries around the world. For more
information, please visit www.rbc.com.

For further information:

For further information: U.S.: Kevin Foster, RBC, (212) 428-6902,
kevin.foster@rbc.com; Loretta Healy, The Hubbell Group, (781) 878-8882,
lhealy@hubbellgroup.com; Canada: Beja Rodeck, RBC, (416) 974-5506,
beja.rodeck@rbc.com; Investor Relations: Amy Cairncross, RBC, (416) 955-7809,
amy.cairncross@rbc.com; For general investor relations information please
visit: www.rbc.com/investorrelations

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