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Press Release

 

RBC EXPANDS TECHNOLOGY AND VENTURE LANDING

Richard Brown to Oversee Southeast and Mid-Atlantic Regions

 

RALEIGH, N.C. – June 18, 2008 – RBC recently appointed Richard Brown to its technology and venture lending specialty banking team, known as the Knowledge-Based Industries (KBI) Group.

Brown will be responsible for extending RBC’s relationships with fast-growing technology, life sciences and health care companies in the Southeast and Mid-Atlantic regions. He will be based in Research Triangle Park, N.C.

“With more than 20 years of technology industry investment and operating experience, including 10 years as a venture capitalist, Rich’s background will be a tremendous asset to our team,” said Brent Keating, KBI group executive. “He not only has an excellent reputation in the entrepreneurial and venture capital communities but also brings a deep understanding of the issues that early-stage and growth-stage companies face on a daily basis.”

Brown joins RBC from TopSpin Capital, a boutique investment banking firm that he founded. It specialized in raising capital and strategic consulting for emerging growth technology companies.

Brown also served as general partner and spent seven years with Aurora Funds, a venture capital firm with $230 million under management. He also spent three years at Safeguard Scientifics, a publicly-traded venture capital firm. Before getting into the venture capital business in 1997, Brown spent more than eight years in the industry in a variety of operating roles, working for leading global technology companies like General Instrument, Sony, Westinghouse and DuPont.

He earned a Master’s in business administration from the Amos Tuck School of Business at Dartmouth and graduated magna cum laude with a BSEE from Duke University. He lives in Durham, N.C., with his wife and daughter.

Background of KBI

For 25 years RBC’s Knowledge-Based Industries Group has been meeting the unique financial needs of companies in fields such as biotechnology, communications, technology-enabled services, health care IT, new media, pharmaceutical research, software and telecom, and others. Known as “knowledge-based companies,” these organizations are typically defined by their focus on developing or leveraging intellectual property, strong growth potential and heavy reliance on venture capital or private equity to finance operations.

The Knowledge-Based Industries Group works with technology companies throughout their lifecycle of growth, from start-ups to publicly-traded companies and can lend from $1 million to more than $25 million across a variety of products including revolving lines of credit, capex term loans, cash flow loans, acquisition loans and recap loans. In the US, KBI has offices in Boston, Atlanta, Florida and Research Triangle Park, N.C.


About RBC Bank

RBC Bank, headquartered in Raleigh, N.C., offers a wide range of financial services and advice, including a complete line of banking, and mortgage services to individuals, businesses and public institutions throughout the Southeast. RBC Bank’s client access network includes more than 430 full-service banking centers, an extensive ATM network, and telephone and online banking. RBC Bank is a wholly-owned subsidiary of Royal Bank of Canada (RBC) (RY on the TSX and NYSE), Canada's largest bank and one of North America’s largest banks as measured by assets and market capitalization. RBC provides personal and commercial banking, wealth management services, insurance, corporate, investment banking and transaction processing services on a global basis with offices in 40 countries. RBC is also one of the world’s financial, social and environmental corporate leaders for the past eight years as on the Dow Jones Sustainability World Index. Additional information about RBC Bank may be found at www.rbcbankusa.com.

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For more information:
Jamie Mitchell/RBC Bank
Manager, Media Relations
919-788-5613
jamie.mitchell@rbc.com