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Royal Bank of Canada
Symbol RY
Shares Issued 1,441,458,604
Close 2014-08-19 C$ 81.60
Market Cap C$ 117,623,022,086
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Royal Bank names Brown CEO of RBC Global Asset Int'l

2014-08-20 06:16 ET - News Release

Mr. John Montalbano reports

RBC GLOBAL ASSET MANAGEMENT APPOINTS NEW CEO OF INTERNATIONAL BUSINESS

RBC Global Asset Management, the asset management arm of Royal Bank of Canada, has appointed Clive Brown as chief executive officer 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 Oct. 1, 2014, Mr. Brown will be based in RBC GAM's London office and will report to John Montalbano, chief executive officer, RBC Global Asset Management.

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 chief executive officer 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 Mr. Montalbano. "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 $335-billion in assets under management globally ($305-billion (U.S.), 180 billion British pounds or 220 billion euros), 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 buildout 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."

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