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Investment firm to make Great Falls its regional base – RBC Dain Rauscher headquarters to add workers, consultants

RBC Dain Rauscher, an investment firm with offices across the country, announced a restructuring plan Monday that will produce changes in its Great Falls office.

Another corporate downsizing? Not exactly.

By JAMES E. LARCOMBE append storysource

http://www.greatfallstribune.com/news/stories/20040810/localnews/1017349.html

The Great Falls office will serve as headquarters for a region that includes five offices in other cities. The move has already led to the creation of three new jobs here, and there are plans to recruit more financial consultants for the Great Falls operation.

"It’s a neat deal for Great Falls, I think," said Dan Ball, the local Dain Rauscher manager and the director of the newly created region.

The three new workers will help supervise staffers in the regional offices.

"These are fairly good jobs, actually," Ball said.

Ball will oversee offices in Billings; Boise; Casper, Wyo.; Rapid City, S.D.; and Spokane as part of the "branch office complex" plan created by RBC Dain Rauscher. The new region has 84 employees, 57 of them financial consultants.

RBC Dain Rauscher, a wholly owned subsidiary of the Royal Bank of Canada, is the nation’s eighth largest full-service securities firm, with more than 1,800 financial consultants and 5,000 employees.

The restructuring involves many offices but not those in major cities, said Jennifer Ellison, a company spokeswoman in Minneapolis. The move is aimed at producing more cost-effective operations, she added.

"By structuring the branches in this region into a complex, we are able to pool our collective resources and focus our processes to better serve our clients," said Karl Leaverton, the company’s Northwest regional director.

Ball said the growth in the amount of investment business done in the Great Falls office in recent years led company officials to choose the city over operations in larger cities for the regional office.

"I’ve been fortunate in being able to recruit the right people in Great Falls," Ball said. "I think that’s probably the main reason they chose Great Falls."

In terms of the sale of investment products, the Great Falls office, with 12 financial consultants, has been more successful than offices in Boise and Spokane, and trails only Billings in the new region, Ball said.

"With technology, you could do this at any of the locations," he said. "It will require me to travel a little bit more."

Ball, who joined RBC Dain Rauscher in 1999, said he plans to recruit three more financial consultants for the Great Falls office and could add more support workers. The investment firm, he said, is also seeking to add space to its office in the Milwaukee Station at 101 River Drive. N.

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