TORONTO, June 28, 2017 /CNW/ - RBC Global Asset
Management (RBC GAM) announced today the establishment of a new RBC
GAM Innovation Lab, an in-house technology hub to incubate digital
capabilities and drive innovation. Leveraging the network of
technology and innovation capabilities across RBC, the RBC GAM
Innovation Lab will focus on developing and executing
next-generation initiatives to enhance the experience and outcomes
of investors and advisors.
"The culture of RBC Global Asset Management revolves around
innovation, continual learning and harnessing the power of human
and machine," said Damon Williams,
CEO, RBC GAM. "Our new Innovation Lab is a reflection of this
philosophy."
RBC GAM has committed initial funding of $20 million over the next five years to establish
the Innovation Lab and fund its initiatives.
"We are committed to strengthening our industry-leading position
in investment expertise and technology," said Doug Coulter, President, RBC Global Asset
Management Inc. "Our Innovation Lab will help us enhance the value
we offer to investors and advisors as Canada's leading provider of investment
solutions."
The RBC GAM Innovation Lab will both benefit from and contribute
significantly to RBC's technology and innovation capabilities. The
Lab will partner closely with the established community of RBC
experts in digital technology, analytics and machine learning as it
develops tools for RBC GAM's retail and institutional businesses,
enhances RBC GAM's investment capabilities and further strengthens
RBC GAM's ability to work effectively with advisors.
As a foundational component of the Innovation Lab, RBC has
completed the acquisition of Wiser Investments, a Toronto-based financial technology firm.
Wiser's founders and employees join RBC GAM effective today,
bringing the firm's expertise and intellectual capital to RBC. RBC
GAM and Wiser have partnered in the past, and this established
working relationship will accelerate the Innovation Lab's work from
its inception.
"At RBC we're changing the way we work to reimagine the future
of financial services," said Gabriel
Woo, Vice President, Innovation at RBC. "We actively seek
new ideas and approaches, so we're also collaborating with emerging
technology partners to tackle some of the most interesting
opportunities to better serve our clients. We're thrilled to bring
onboard the skilled talent and proven expertise of Wiser
Investments, which will form a solid foundation for RBC Global
Asset Management's Innovation Lab."
About RBC Global Asset Management
RBC Global Asset
Management (RBC GAM) is the asset management division of Royal Bank
of Canada (RBC) and includes RBC
Global Asset Management Inc. and institutional money managers
BlueBay Asset Management and Phillips, Hager & North Investment
Management. RBC GAM is a provider of global investment management
services and solutions to institutional, high-net-worth and
individual investors through separate accounts, pooled funds,
mutual funds, hedge funds, exchange-traded funds and specialty
investment strategies. The RBC GAM group of companies manage more
than C$400 billion in assets and have
approximately 1,400 employees located across Canada, the United
States, Europe and
Asia.
SOURCE RBC Global Asset Management Inc.