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RBC Global Asset Management Appoints New CEO of International Business
|By PR Newswire
|August 20, 2014 04:00 AM EDT
LONDON, UK, Aug. 20, 2014 /CNW/ - RBC Global Asset Management (RBC GAM),
the asset management arm of Royal Bank of Canada (RY on TSX and NYSE),
today announced the appointment of Clive Brown as CEO and managing
director, RBC GAM International. In this newly created role, Mr. Brown
will oversee RBC GAM's business in Europe, the Middle East, Africa and
the Asia-Pacific region excluding BlueBay Asset Management. Officially
assuming the role on October 1, 2014, Mr. Brown will be based in RBC
GAM's London office and will report to John Montalbano, CEO, RBC GAM
Mr. Brown joins RBC GAM with over 30 years' experience in the financial
services industry, including 21 years at JP Morgan Asset Management,
where he held a number of senior roles, most recently as global chief
operating officer and chairman of Asia, based in Hong Kong, and prior
to that as CEO of JP Morgan Asset Management International. He started
his career in 1982 at Price Waterhouse where he qualified as a
"RBC Global Asset Management's global growth plans include a focus on
Europe, the Middle East, Africa and the Asia- Pacific region," said
John Montalbano, CEO, RBC GAM Inc. "The financial strength and
stability of RBC, combined with our strong investment discipline and
client-focused culture enable us to continue to attract top industry
talent. Clive has an exceptional background and is ideally suited to
provide focus and direction to our teams in London and Hong Kong in
support of our business expansion plans in these regions."
RBC GAM has over C$335 billion in assets under management globally (US
$305B, £180B or €220B), as at April 30, 2014. With sales and
distribution teams located throughout Europe and in Hong Kong, RBC GAM
offers a full spectrum of investment solutions for institutional and
individual investors including mutual funds, exchange-traded funds,
hedge funds, pooled funds, separate accounts and specialty investment
Today's announcement reflects a continuation of a growth trajectory that
includes consistent organic growth as well as successful acquisitions:
Voyageur Asset Management (2001), Phillips, Hager & North Investment
Management (2008) and BlueBay Asset Management (2010). It also follows
the recent build-out of RBC GAM's investment management teams in both
London and Hong Kong, including the addition of 10 global equity specialists earlier this year and, more recently, the addition of three new members
to RBC GAM's London-based EMEA business development team. Globally, RBC
GAM has more than 1,250 employees located across Canada, the United
States, Europe and Asia.
"This is an exciting time for RBC GAM, our clients and our employees as
we continue to bring to the global market the expertise and
client-focused service we are known for in North America," said Mr.
Montalbano. "I am confident that under Clive's leadership, RBC GAM's
international businesses will continue to attract clients globally that
recognize the value of our approach."
About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada
(RBC), and includes institutional money managers BlueBay Asset
Management and Phillips, Hager & North Investment Management. RBC GAM
is a provider of global investment management services and solutions to
individual, high-net-worth and institutional investors through mutual
funds, exchange-traded funds, hedge funds, pooled funds, separate
accounts and specialty investment strategies. RBC GAM group of
companies manage more than C$335 billion (US $305B, £180B or €220B) in
assets and have approximately 1,250 employees located across Canada,
the United States, Europe and Asia.
RBC Global Asset Management is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC
Wealth Management directly serves affluent, high-net-worth and
ultra-high net worth clients in Canada, the United States, Latin
America, Europe, the Middle East, Africa, and Asia with a full suite of
banking, investment, trust and other wealth management solutions. The
business also provides asset management products and services directly
and through RBC and third party distributors to institutional and
individual clients, through its RBC Global Asset Management business
(which includes BlueBay Asset Management). RBC Wealth Management has
more than C$690 billion of assets under administration, more than C$426
billion of assets under management and approximately 4,400 financial
consultants, advisors, private bankers, and trust officers. For more
information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the
United States, securities are offered through RBC Wealth Management, a
division of RBC Capital Markets, LLC, a wholly owned subsidiary of
Royal Bank of Canada. Member NYSE/FINRA/SIPC.
Image with caption: "RBC Global Asset Management announces the appointment of Clive Brown as CEO and Managing Director, RBC GAM International. (CNW Group/RBC)". Image available at: http://photos.newswire.ca/images/download/20140820_C7520_PHOTO_EN_42491.jpg
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