RBC Brewin Dolphin CEO Robin Beer has been chosen to lead Royal Bank of Canada’s UK wealth management business, RBC Wealth Management International, amid plans to merge the two businesses in the new year.
The UK arm of RBC Wealth acquired Brewin Dolphin for £1.6bn earlier in the year, a move that triggered the departure of all but two of Brewin’s board members in August.
However, Beer (pictured) remained in place as chief executive of the rebranded DFM, and he will take up his position as CEO of Wealth Management International in the first half of 2023.
They currently operate as separate entities, but once it has been successfully integrated with RBC Brewin Dolphin, Beer will lead the merged business.
Beer joined Brewin from Barclays Wealth in 2008, and had held several senior roles at the firm by the time he was named chief executive in June 2020.
David Thomas, the outgoing CEO of RBC Wealth Management International, has been named head of RBC Europe, with the change coming into effect on 1 January 2023.
Globally, RBC Wealth Management has nearly C$1.3trn (£776bn) of assets under administration, and C$929bn (£554bn) of assets under management.