RBC's global asset management group has hired a leader to oversee its international operations in a move aimed at growing its business abroad.
Clive Brown will step into the role of chief executive of RBC Global Asset Management International. He will oversee the business in Europe and Asia where RBC has sales teams, as well as the Middle East and Africa. The role has been newly created, and the London-headquartered Mr. Brown won't formally start until the start of October.
Mr. Brown joins the bank from JP Morgan Asset Management where he worked for more than two decades, rising to his recent role of chief operating officer of the business.
RBC said hiring Mr. Brown in this new position would help the bank expand in targeted regions.
"RBC Global Asset Management's global growth plans include a focus on Europe, the Middle East, Africa and the Asia-Pacific region," said John Montalbano, CEO of RBC Global Asset Management, in a statement. Mr. Brown will report to him.
The bank noted that it has made several recent hires to support its asset management business, including a team of global equity specialists. So far, the business has about $335-billion in assets under management.