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Canadian Bank Gains Interest in O’Shaughnessy

July 23, 2008, 4:57 p.m. EDT 1 Min Read

The Royal Bank of Canada (RBC) recently announced its acquisition of 10% interest in the O’Shaughnessy Asset Management (OSAM) firm.

“We’re excited about this opportunity to deepen our partnership with OSAM. Jim O’Shaughnessy [chairman and CEO of OSAM] and his team have delivered strong performance for our unit holders over the past 10 years and we look forward to continuing our relationship,” said Brenda Vince, president of RBC Asset Management Inc.

OSAM is a Stamford-based money management firm that serves as a secondary advisor to a group of mutual funds provided through the RBC subsidiary, RBC Asset Management. These two institutions have been connected in a partnership for the past 10 years.

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