The change, effective December 31, 2009, reflects the firm’s position as the U.S. Institutional Platform of RBC Global Asset Management (RBC GAM), according to the announcement.
RBC GAM comprises the three asset management firms owned by Royal Bank of Canada (RBC): RBC GAM (U.S.); RBC Asset Management Inc.; and Phillips, Hager & North Investment Management Ltd. The firms have combined assets of more than $187 billion as of October 31, 2009, and offices in the U.S., Canada, Europe, and Asia.
“As part of the RBC GAM platform, we look forward to offering clients an expanded array of investment solutions in the coming months,” said Mike Lee, CEO, president and chief investment officer of RBC GAM (U.S.), in the announcement.
More information is at http://www.rbcgam.com.