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News Releases

 

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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09/08/2009 13:01:09