Royal Bank of Canada has appointed Doug Guzman as Group Head of Wealth Management and Insurance.
"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,” said Dave McKay, RBC’s President & Chief Executive Officer.
“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."
Guzman will move from his position as Managing Director and Head of Global Investment Banking, Capital Markets, to succeed George Lewis who will remain at RBC as a Senior Portfolio Manager in Global Asset Management.
As Group Head, 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.
In addition 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.
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.
"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.,” said McKay.
“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."
