When was Dominion Securities founded and when was it purchased by Royal Bank?
Opening in a small office on Toronto’s King Street on April 1, 1901, Dominion Securities initial business concentrated on the underwriting and distribution of government and municipal bonds. After the Second World War, Dominion Securities kept pace with Canada’s growing investment business by underwriting and distributing new issues of government and corporate securities, trading Canadian and foreign issued securities and executing stock orders on major stock exchanges. Responding to the demands of an increasingly competitive marketplace, Dominion Securities grew through mergers and acquisitions with A.E. Ames & Co. (1981), Pitfield, Mackay, Ross Limited (1984) and Molson Rousseau (1986). On the tail of massive restructuring of the financial services industry, Royal Bank acquired 67 percent of Dominion Securities on March 31, 1988, which was raised to 100 percent ownership in 1996. For more information, please visit our history of RBC Dominion Securities at: http://www.rbc.com/history/
