Larry Holtz has been appointed U.S. head of debt markets at the newly rebranded RBC Capital Markets, formerly know as RBC Dain Rauscher's U.S. fixed income business. Holtz's duties in his new position are similar to those that he undertook while in his prior position before the rebranding. All changes with the company, from Holtz's position to the name change, took effect Nov. 14. Calls to Holtz were not returned by press time.
"The re-branding is really a way for us to streamline our operations and eliminate client confusion. It also allows people on the Dain side to have access to the RBC balance sheet. We were essentially running the same business under two different brands before the changes," said a spokesman for RBC Capital Markets.
The integration of the two companies began in earnest one year ago, following RBC's acquisition of Dain Rauscher in 2001. The unification of the capital markets business gives U.S. clients greater offerings such as credit, a wider range of investment products and a much larger balance sheet.