Photos: Diego M. Radzinschi/ALM Blakes, Allen & Overy, and Wachtell Steer Largest Bank Deal in Canadian History
Ahead of the deal, in which royal Bank of Canada aquired HSBC's Canadian operations, the bank expanded the responsibilities of chief legal officer Maria Douvas, to also oversee enterprise strategy, procurement, corporate real estate, climate and the chief data office.
April 01, 2024 at 03:22 PM
3 minute read
Blake, Cassels & Graydon, Allen & Overy, and Wachtell, Lipton, Rosen & Katz advised the Royal Bank of Canada in its CA$13.5 billion (US$10 billion) purchase of HSBC Bank Canada—the largest bank acquisition in Canadian history.
The deal was first announced in November 2022 and as of April 1, all 130 HSBC Canada's branches bear the RBC banner. RBC is the largest of the country's Big Five banks, with about CA$1.9 trillion assets under management and the largest financial institution in North America. HSBC was the seventh largest bank in Canada, according to an archived version of the bank's website.
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