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RBC appoints new executives to lead US global asset management arm

Reuters
·1-min read
Financial institutions in the financial district of Toronto

TORONTO (Reuters) - Royal Bank of Canada has appointed Jessica Rausch as chief operating officer of its US global asset management (GAM) business and Brandon Lew as president in the division's new-look leadership since Donald Sanya's appointment as CEO.

The three executives will start their new roles on Aug. 1, the Toronto-based lender said.

Rausch and Lew are replacing Carol Kuha and Mike Lee, who will be retiring at the end of July.

Kenyan Sanya joined the bank in 2014 and previously held senior roles at BlackRock.

The RBC GAM group manages about $453 billion in assets, with teams in eight cities across Asia, Europe and North America.

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RBC and other Canadian banks have been seeking growth opportunities outside their domestic market, venturing into areas including personal banking, capital markets and asset management.

(Reporting by Nivedita Balu in Toronto; Editing by David Goodman)