Our story begins, like so many, with an enterprising individual who possessed keen insight, unbridled talent and drive. The year was 1909, and the man was Oscar Kalman. His small brokerage in St. Paul, Minnesota, formed the nucleus of a company that would one day become one of the largest security firms in the nation.

Between the years of 1909 and 1931, other firms destined to become a part of RBC Dain Rauscher were also forming: Bosworth, Chanute, Loughridge & Co. in Denver; J.M. Dain & Co. in Minneapolis; J.E. Refsnes & Co. in Phoenix; and Rauscher, Pierce & Co. in Dallas.

Despite their diverse locations, these companies all had one thing in common: a commitment to serving clients’ financial interests with exceptional service, innovation and professionalism. These shared values would provide the foundation for a future alliance.

After a handful of mergers, two dominant firms emerged: Dain Bosworth and Rauscher Pierce Refsnes. Dain focused on serving the Midwest and Northwest, and Rauscher concentrated on the Southwest. In 1981, to improve service, expand product offerings and increase operating efficiency, Dain and Rauscher affiliated under a holding company called Inter-Regional financial Group (later renamed Interra Financial).

Late in 1997, a powerful new combination, Dain Rauscher, was born out of the great traditions of its predecessor firms. The firm wasted little time in strengthening its competitive position. In 1998, it acquired the investment banking firm Wessels, Arnold & Henderson and restructured its Equity Capital Markets unit to become Dain Rauscher Wessels.

In 2000, Dain Rauscher was acquired by Royal Bank of Canada, an alliance that positions the company to continue its long, exceptional history of growth and client service. The firm was renamed to RBC Dain Rauscher in November 2001, and its equity capital markets division was renamed RBC Capital Markets from Dain Rauscher Wessels.

In the newest chapter of our history, RBC Dain Rauscher merged with Tucker Anthony Sutro in March 2002.

Tucker Anthony had recently completed their 2000 merger with Sutro & Co. Boston-based Tucker Anthony began in 1892 and has served clients primarily on the East coast. Founded in 1858 in San Francisco, Sutro & Co. has a long and distinguished history of providing innovative solutions for clients.

The merger of Tucker Anthony Sutro and RBC Dain Rauscher creates an organization that brings together many rich traditions with the same focus — to help clients achieve their financial goals.