Briefly:

Previous Brieflies this week: | MON | TUE | WED | THU |

(February 14, 2008) Royal Bank of Canada’s American subsidiary, RBC Dain Rauscher, has struck a deal to buy Washington D.C.-based wealth management firm Ferris, Baker Watts, Inc.

FBW manages about $18.5 billion in assets, with 330 advisors working out of 42 branches across 10 states.

“FBW represents a strong strategic and cultural fit for the U.S. wealth management business of RBC, and will significantly expand our presence in the Eastern, Midwest and Mid-Atlantic regions — all important markets for us,” said John Taft, president and CEO of RBC Dain Rauscher.

The deal still requires the usual regulatory approvals on both sides of the border. The transaction is expected to be completed by mid 2008.

• • •

Great-West Life buys UK annuity block

(February 14, 2008) An Irish subsidiary of Great-West Lifeco, Canada Life International Re Limited, has purchased a block of U.K. payout annuities from Standard Life Assurance Limited.

“We are very pleased that Canada Life International Re is completing this transaction, which capitalizes on our position in core European markets, and continues our expansion in Europe,” said Raymond L. McFeetors, president and CEO of Great-West Lifeco.

The transaction increases policyholder liabilities by approximately C$13 billion, with a corresponding increase in assets. The company expects the transaction to add to its bottom line in 2008.

• • •

BMO ranked high for U.S. analysis

(February 14, 2008) If you’re looking for a stock tip on the U.S. market, you might want to start with research from BMO Capital Markets. The firm has been named one of the top stock pickers in the U.S., ranking second in terms of coverage for stocks on the S&P 500.

The ranking was given by StarMine, a San Francisco-based firm that measures the performance of equity analysts. BMO Capital Markets also placed fourth in earnings estimates in the U.S. category.

“This is an outstanding recognition for the entire equity research team,” said Mike Miller, head of equity products, BMO Capital Markets. “Our approach at BMO is to cultivate a research group that has had significant industry expertise and long tenured analyst experience, a powerful combination that provides our clients with research that adds value.”

• • •

C-suite shuffled at Seamark

(February 14, 2008) Seamark Asset Management has named Angela Eaton as chief investment officer, taking over from Tom MacLaren, who is retiring in August.

“Angela has been a key contributor to the turnaround in Seamark’s investment performance over the past year and a half,” said Stuart R. Raftus, president and CEO. “Her appointment to CIO recognizes her strong leadership, research discipline and investment insight.”

Most recently, Eaton was head of equities and will retain those responsibilities in her new role.

The company also announced that Brent Barrie has taken over as chief operating officer.

(02/14/08)