RBC Wealth Management announces leadership changesBrenda Vince named head, Wealth Management Strategy Doug Coulter appointed president, RBC Asset Management Damon Williams appointed president, Phillips Hager & North
TORONTO and VANCOUVER, November 25, 2008 —
RBC Wealth Management today announced the appointment of Brenda
Vince as head, Wealth Management Strategy, effective February
1, 2009.
"Brenda has been tremendously successful in building
RBC Asset Management into an industry leader in Canada,"
said George Lewis, group head, RBC Wealth Management. "She
is the best person to lead RBC Wealth Management's strategy."
"With her exceptional strategic insight, client focus,
experience and commitment to operational excellence, Brenda
will now be a great asset to all of our Wealth Management
businesses as we continue to execute our strategy to extend
our lead in Canada, expand in the U.S. and internationally,
and attract and retain experienced professionals across all
of our businesses," added Lewis.
Brenda will focus on initiatives which will have impact across
businesses, product lines, channels and clients.
Darrell Oswald and Patrick Keeley, co-heads of the combined
discretionary wealth management business of RBC and Phillips,
Hager & North (PH&N), will continue to report to Brenda
as they lead one of the largest private client investment
counselling firms in Canada.
As Brenda assumes this new role, Doug Coulter, currently
president and CEO of RBC Direct Investing, will be appointed
president, RBC Asset Management (RBC AM), effective on or
about February 1, 2009, a position currently held by Brenda.
RBC Direct Investing is currently reviewing candidates for
Doug's current position and an announcement regarding his
successor will be made in due course.
"Doug has what it takes to maintain and build RBC AM's
leadership among Canadian asset management companies, to continue
to serve the investment needs of all of our clients and to
grow our global investment capabilities," said John Montalbano,
chief executive officer, RBC Global Asset Management. "His
proven ability to manage a dynamic organization in a highly
competitive marketplace will be valuable as RBC Asset Management
continues its growth strategy."
Also effective February 1, 2009, Damon Williams will be appointed
president of Phillips Hager & North (PH&N), in addition
to an expansion of his current role as head of Institutional
Management for PH&N to include RBC AM.
"Damon has demonstrated outstanding leadership at the
helm of PH&N's institutional business," said Montalbano,
who is the current president of PH&N. "His unwavering
commitment to putting clients' interests first makes him an
ideal leader of both PH&N and our combined institutional
business."
About Global Asset Management and RBC Wealth Management
Global Asset Management comprises RBC Asset Management Inc.
(RBC AM), Phillips, Hager & North Investment Management
Ltd. (PH&N) in Canada and Voyageur Asset Management Inc.
in the U.S. Combined, RBC AM and PH&N have $102 billion
in IFIC-reported mutual fund assets under management and an
additional $49 billion in other institutional and private
client assets under management. RBC AM and PH&N received
the Lipper Awards for "Best Overall Fund Group"
and "Best Bond Family" in Canada respectively for
the second consecutive year in 2008.
Global Asset Management is part of RBC Wealth Management,
which directly serves affluent and high net worth clients
in Canada, the United States, Latin America, Europe and Asia.
RBC Wealth Management also provides asset management and trust
products and services directly and through RBC and third-party
distributors to all client segments, and has over C$500 billion
of assets under administration, more than C$240 billion of
assets under management and more than 4,000 financial consultants,
advisors, private bankers and trust officers.
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For more information, please contact:
Rina Cortese,
RBC Wealth Management Communications,
(416) 974-6970
Chris Dotson,
RBC Asset Management and PH&N Communications,
(604) 408-6009
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