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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