Clive Brown named CEO of international business at RBC GAM
22 August 2014
Category: News, Asia, Global, Hong Kong, Europe, United Kingdom, North America
By David Macfarlane
The asset management arm of the Royal Bank of Canada, RBC Global Asset Management (RBC GAM), has appointed Clive Brown as CEO and managing director, RBC GAM International. He will oversee the company’s business in Europe, the Middle East, Africa and the Asia-Pacific region, excluding BlueBay Asset Management, in the newly created role. Mr. Brown will officially take up the role on October 1 and be based in the firm’s London office; he will report to John Montalbano, CEO, RBC GAM Inc.
“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,” said Mr. Montalbano.
Mr. Brown bring over 30 years' experience in the financial services industry to RBC GAM, 21 of which were spent at JP Morgan Asset Management, most recently as global chief operating officer and chairman of Asia, based in Hong Kong. Prior to that he was CEO of JP Morgan Asset Management International. He started his career in 1982 at Price Waterhouse where he qualified as a chartered accountant.
"I am confident that under Clive's leadership, RBC GAM's international businesses will continue to attract clients globally that recognise the value of our approach," added Mr. Montalbano.
RBC GAM had over C$335 billion (US$305 billion) in AUM globally, as at April 30. Mr. Brown’s appointment 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 ten 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.