TORONTO, Sept. 8 /CNW/ - Vijay Parmar has been appointed President of RBC
Phillips Hager & North Investment Counsel Inc. (RBC PH&N IC), Canada's largest
private client firm, subject to regulatory approval.
He will begin his new role in mid-September, 2009. Mr. Parmar joined RBC
Dominion Securities in 1994 and was most recently branch manager, vice
president and director, RBC Dominion Securities, in Vancouver.
"Vijay's experience, skills and commitment to providing exceptional
service to our clients made him a natural choice to lead our discretionary
wealth management business during its next stage of growth," commented George
Lewis, Group Head, RBC Wealth Management. "He will be working closely with RBC
Global Asset Management, which is central to RBC PH&N IC's business strategy
and service offering for clients."
"RBC PH&N IC has tremendous strengths, with a model of high personal
attention matched with the breadth of services, resources and stability of our
global organization, including our award-winning asset management business,"
said Vijay Parmar, incoming president of RBC PH&N IC. "I look forward to the
opportunity to focus my efforts on enhancing the strong relationships we have
with our clients and helping our investment counselors be as effective as
Darrell Oswald and Patrick Keeley were previously co-presidents of RBC
PH&N IC, and contributed to the integration of RBC and PH&N's discretionary
private client businesses. Mr. Oswald has decided to return to his primary
interests, dealing directly with clients and mentoring our investment
counsellors in Vancouver as part of the RBC PH&N IC team. He will make this
transition by October 31, 2009, and in the interim period will work closely
with Mr. Parmar to ensure a seamless transition in management. Mr. Keeley is
leaving RBC after five years of valuable service to the organization.
About RBC Phillips, Hager & North Investment Counsel and RBC Wealth
RBC Phillips, Hager & North Investment Counsel (RBC PH&N IC), Canada's
largest private client investment counselling firm, provides discretionary
wealth management services to high net worth individuals and families with
investable assets of $1 million or more, as well as corporations,
institutional clients, foundations and not-for-profit organizations.
RBC PH&N IC 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 with a full suite of investment, trust and other
wealth management solutions. The business also provides asset management
products and services directly and through RBC and third-party distributors to
institutional and individual clients, and has more than $490 billion of assets
under administration, more than $240 billion of assets under management and
more than 4,500 financial consultants, advisors, private bankers and trust
For further information:
For further information: Rina Cortese, RBC Wealth Management
Communications, (416) 974-6970