Doug Guzman was named deputy chairman and group head, wealth management and insurance, at Royal Bank of Canada, effective Nov. 1.
The wealth management and insurance branch includes RBC Global Asset Management, which has more than $350 billion in institutional assets under management.
Mr. Guzman will replace George Lewis, who will remain as a senior portfolio manager at RBC Global Asset Management.
Mr. Guzman will report to Dave McKay, RBC president and CEO.
Mr. Guzman was managing director and head of global investment banking for RBC Capital Markets. He will not be directly replaced as the investment banking business will be led by its three current regional heads: Blair Fleming in the U.S., Derek Neldner in Canada and Josh Critchley in Europe, said Tanis Feasby, RBC spokeswoman. Also, Mr. Neldner will oversee RBC's Asia-Pacific investment banking business.
The three will report to Doug McGregor, chairman and CEO and group head, capital markets and investor and treasury services of RBC Capital Markets.
