Ronald Homer and Catherine Banat were promoted by RBC Global Asset Management to expand its impact and responsible investing businesses in the U.S.
Mr. Homer, managing director, now is chief strategist of impact investing in the U.S., confirmed Tony Catinella, a company spokesman. He will remain based in the firm's Boston office and will work with investors to incorporate impact investing into their portfolios. He also will work with the RBC GAM's fixed-income teams to develop impact-investing strategies.
Mr. Homer was managing director, institutional portfolio manager and president of RBC GAM's access capital strategies team. He will not be replaced, Mr. Catinella said.
Ms. Banat was named director of responsible investing in the U.S. and will work on development of RBC GAM's distribution platform for responsible investment strategies in the U.S. from the firm's New York office. She will collaborate with Judy Cotte, the firm's vice president and head of corporate governance and responsible investment.
Ms. Banat will not be replaced in her previous portfolio management position, Mr. Catinella said.
RBC GAM manages a total of $330 billion worldwide, of which $3.3 billion was managed in the U.S. in the firm’s socially responsible strategy and $1.2 billion was managed in impact investing approaches. Mr. Catinella couldn't immediately provide assets managed by RBC GAM in the U.S. in impact and responsible investing.