Matthew Appelstein has joined RBC Global Asset Management (U.S.) as head of distribution.
The position is new, confirmed Yen To, a spokeswoman for parent company RBC Global Asset Management.
Mr. Appelstein previously served as an executive vice president and head of global distribution with Old Mutual Asset Management through late April, when Peter Bain, who became president and CEO of the firm in February, brought in a new management team.
Ms. To said Mr. Appelstein's appointment will help the firm to better pursue its growth strategy. The parent company has $250 billion in assets under management, of which $41 billion comes from U.S. clients.
In a news release, Mike Lee, the CEO of RBC GAM (U.S), to whom Mr. Appelstein will report, said Mr. Appelstein will help the firm “address increasingly complex market challenges and client needs.”