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The Tamir Fishman Investments Bank and the Royal Bank of Canada (RBC) reached an agreement Tuesday according to which the RBC will strategically invest $7.6 million in the Israeli bank.

Since March 2000, both groups have been cooperating by floating public and private stocks, mergers and acquisitions.

The Tamir Fishman Investments Bank was founded in 1997 by Eldad Tamir and Danny Fishman. It employs some 80 workers in Tel Aviv and San Francisco.