TORONTO, July 7, 2015 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE)
announced today that Doug Guzman, Managing Director and Head of Global
Investment Banking, Capital Markets, has been appointed Group Head,
Wealth Management and Insurance, effective November 1, 2015. Mr. Guzman
will succeed George Lewis who will remain at RBC as a Senior Portfolio
Manager in Global Asset Management. Mr. Lewis and Mr. Guzman will work
together closely over the next few months to ensure a smooth
As Group Head, Mr. Guzman will be responsible for the strategy and
performance of Wealth Management in Canada and internationally,
including Global Asset Management as well as RBC's insurance business.
He will report to Dave McKay, President and Chief Executive Officer,
and will become a member of RBC's Group Executive, which is responsible
for setting the overall strategic direction of the bank.
"Doug has a track record of consistently delivering strong business
results including growing RBC's Investment Banking business to a top
ten global franchise while maintaining our leadership position in
Canada. During his 14 years with RBC, Doug has established deep client
relationships, assisting them to achieve their objectives in a number
of landmark transactions. Through his leadership of RBC's Investment
Banking business over the last eight years, he has strengthened his
global perspective and this, coupled with his unparalleled client
focus, positions him well to lead this strategically important business
for RBC," said Dave McKay.
In addition Mr. Guzman will assume the role of Deputy Chair, RBC Capital
Markets, where he will continue to act as the lead relationship manager
with a select number of key clients.
Mr. Guzman holds an Honours B.A. in Business Administration from the
University of Western Ontario and graduated from Harvard Business
School with an M.B.A. In addition to his roles at RBC, he has held
investment banking roles at Goldman Sachs, based out of New York and
Mr. Lewis will continue as a Senior Portfolio Manager, RBC Global Asset
Management, applying his significant experience in this area for the
continued benefit of RBC's clients. In particular, he will continue to
co-manage the top-rated RBC Global Dividend Growth Fund which recently
surpassed the $2 billion mark under his direction.
"As Group Head, George has led RBC Wealth Management since 2007 and
assumed responsibility for RBC Insurance in 2012. Under his leadership,
we have established the number one position in Canadian wealth and
asset management and grown to the fifth-largest wealth manager
globally, enabling RBC to become a truly global asset manager in
addition to our top-ten position in the full-service wealth business in
the U.S. I want to thank George for his business leadership and
contributions as well as his leadership in community organizations.
With the restructuring of our international wealth business largely
complete, and our U.S. Wealth Management growth platform underway, we
are well positioned for this leadership transition," noted Dave McKay.
Royal Bank of Canada is Canada's largest bank, and one of the largest
banks in the world, based on market capitalization. We are one of North
America's leading diversified financial services companies, and provide
personal and commercial banking, wealth management, insurance, investor
services and capital markets products and services on a global basis.
We employ approximately 78,000 full- and part-time employees who serve
more than 16 million personal, business, public sector and
institutional clients through offices in Canada, the U.S. and 39 other
countries. For more information, please visit rbc.com.
RBC supports a broad range of community initiatives through donations,
sponsorships, and employee volunteer activities. In 2014, we
contributed more than $111 million to causes worldwide, including
donations and community investments of more than $76 million and $35
million in sponsorships.
For further information:
Tanis Feasby, 416-955-5172, firstname.lastname@example.org
Amy Cairncross, 416-955-7803, email@example.com