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RBC Global Asset Management Appoints New CEO of International Business

LONDON, August 20, 2014 /PRNewswire/ --

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 Inc.

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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 Chartered Accountant.

"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 strategies.

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

*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.

For further information:

RBC Global Asset Management, Toronto:
Connie Soave, +1-(0)-416-955-0577, [email protected]

Greentarget, London:
Dafina Grapci-Penney, +44-(0)20-7324-5484, [email protected]

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