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Vijay Parmar appointed President of RBC Phillips, Hager
& North Investment Counsel, Canada’s largest private
client firm
TORONTO, September 8, 2009 — 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 possible."
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 Management
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 officers.
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For more information, please contact:
Rina Cortese,
RBC Wealth Management Communications, 416-974-6970
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