Royal Bank of Canada has completed the acquisition of BlueBay Asset Management.
The addition of BlueBay brings over 200 employees and approximately US$40 billion in assets under management to RBC’s Global Asset Management business.
“As a top-ten global wealth management firm, we are excited to expand our asset management capabilities in Europe and Asia, and BlueBay’s strengths are an ideal fit with our own as we continue to grow,” said George Lewis, group head, RBC Wealth Management.
“By leveraging the combined strengths of RBC and BlueBay, this transaction will enable us to bring a greater range of asset management solutions to our clients around the world,” said John Montalbano, CEO of RBC Global Asset Management.
“Since announcing the transaction, we have received strong support from shareholders, investors and colleagues alike,” said Hugh Willis, CEO of BlueBay. “RBC’s distribution strength and financial support provides BlueBay with a very real competitive advantage as we embark on the next stage of our growth.”
D.C.