RBC Financial’s U.S. brokerage unit RBC Dain Rauscher Wessels announced today that it will make a US$7.6 million investment in its Israeli partner, investment bank Tamir Fishman & Co.

Peter Grant, president and chief operating officer of RBC Dain Rauscher Wessels, says, “Our decision to take an equity position in Tamir Fishman is an important step toward meeting our strategic objectives, as part of the RBC group, and building one of the leading investment banks in the world. We believe this direct investment will cement our relationship with our strong Israeli partner.”

As part of the agreement, Grant will join the Tamir Fishman & Co. board of directors. Tamir Fishman & Co. has been the exclusive representative of RBC Dain Rauscher Wessels in Israel since March 2000. The firm works closely with RBC Dain Rauscher Wessels on a wide range of products that include corporate finance, mergers and acquisitions, private equity, venture capital, asset management, sales and trading, and research.

RBC Dain previously invested US$10 million in Tamir Fishman Ventures II. Founded in the first quarter of 2000, Tamir Fishman Ventures II is a US$150 million venture capital fund sponsored by Tamir Fishman & Co. that invests in Israeli and Israel-related next generation companies operating in the communications, software and Internet infrastructure segments. The fund is aiming at creating a balanced portfolio by focusing primarily on investing in early stage companies, as well as making selective seed and late stage investments.

Eldad Tamir and Danny Fishman, co-founders and co-CEOs of Tamir Fishman & Co., praised the commitment by RBC Dain to Israeli companies and clients. “Our relationship with RBC Dain has proven to be outstanding, and we are fortunate to have such an important strategic partner as our shareholder. RBC Dain Rauscher Wessels’ industry expertise and knowledge, combined with their strength as one of North America’s largest financial institutions, enables us to offer our clients an extensive range of products and services previously unavailable in Israel.”

“I am pleased to join Tamir Fishman’s board and assist the continued growth of Israel’s leading full-service investment bank,” Grant said. “We are committed to our clients all over the world and know that our many Israeli clients will benefit greatly from our growing commitment and strong relationship with Tamir Fishman.”