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Gotrade News - Royal Bank of Canada (RY) has agreed to acquire Yarra Capital Management, an Australian active asset manager with approximately A$18 billion in assets under management, according to RBC's official release on Monday, November 9, 2026. RBC anticipates completion in the first quarter of 2027, subject to regulatory approval.
Regular-session close on November 9, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com.
What Royal Bank of Canada Announced
RBC announced at 8:00 a.m. ET that it has entered into an agreement to acquire Yarra Capital Management Limited, which the company said specializes in Australian fixed income, Australian equities and alternative investment solutions. According to the release, Yarra was founded in 2017, has offices in Melbourne and Sydney, and had approximately A$18 billion in assets under management as at September 30, 2026, with approximately 75 employees.
Under the terms of the agreement, RBC will acquire full ownership of Yarra, subject to the satisfaction of certain closing conditions, including regulatory approval. The release did not state a purchase price. The release describes the acquisition as a springboard for the growth ambitions of RBC Global Asset Management (RBC GAM), the bank's asset management division.
"The investment and distribution capabilities of Yarra are complementary to our asset management business," said Damon Williams, CEO of RBC Global Asset Management. Dion Hershan, Executive Chairman of Yarra Capital Management, said: "After a long and deliberate search to find the right business partner for the future, we are thrilled about our agreement to join RBC."
Why It Matters for RY
According to the release, RBC Global Asset Management is focused on expanding its capabilities and diversifying its market share, including outside of North America. RBC said the announcement demonstrates its commitment to growing in Australia and the Asia-Pacific region, and that the transaction, once closed, is expected to further strengthen the bank's position as a leading global asset manager.
The company said the transaction is not expected to have a significant impact on RBC's common equity Tier 1 (CET1) ratio or future run rate earnings. The release states that the RBC GAM group of companies manages approximately $834 billion in assets and has approximately 1,600 employees across Canada, the United States, Europe and Asia.
What to watch next: Royal Bank of Canada lists Thursday, December 3, 2026 (8:30 a.m. ET) as the date of its fourth quarter 2026 results conference call.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
This article was written with the help of AI and checked by the Gotrade team before publishing.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
Setya Mahardika oversees investment content and US market research at Gotrade. With 4+ years in fintech and related industries, he verifies every market article against primary sources, company filings, exchange data, and official releases before it goes live. His focus is accuracy and clear sourcing, so investors can trust what they read.
