Source: The Canadian Press

Royal Bank of Canada (TSX:RY) says it has acquired Loudoun Capital Partners, a boutique financial advisory group in Europe for an undisclosed amount.

The Canadian bank said Monday the transaction includes the appointment of Loudoun’s Mike Carter and Robin Mackie to the European global investment division of RBC Capital Markets.

Both Carter and Mackie previously worked at Lehman Brothers in Europe, RBC said in a release.

The move into Europe comes as Royal Bank refocuses its international strategies to countries other than the United States where it is grappling with making repairs to operations that have been damaged by the economic downturn.

Acquisitions of operations within the UK “are indicative of the focus we have placed on broadening our scope of coverage in financial services, a sector in which RBC can play a major role,” said Patrick Meier, head of investment banking for RBC Capital Markets in Europe.

“Mike and Robin’s hires add a new layer of expertise to our strong European platform.”