UK – The new chief operating officer at the Royal Bank of Canada’s Voyageur Asset Management says that managing US equity and bond mandates of European pension funds will be key to its expansion.
Voyageur, a Minneapolis-based subsidiary of the bank’s RBC Financial Group, named Mark Hirst as chief operating officer, effective November 1. He was previously chief investment officer at RBC Global Investment Management.
He intends to hit the ground running in terms of running mandates for UK and European pension funds.
“As part of our overall growth strategy we'll be looking to expand internationally. Managing the US equity and US fixed income mandates of UK and European pension funds will be a corner-stone of our expansion plans," Hirst said in a statement.
He added: "I'm excited by the challenge ahead. Voyageur has a great franchise in the US with a proven long-term track record.” Voyageur controls more than 19 billion dollars for US institutions.