The Royal Bank of Canada has appointed Brewin Dolphin boss Robin Beer to lead the newly-rebranded RBC Brewin Dolphin and RBC's British Isles wealth management business, as the units prepare to merge in the first half of 2023.
In October, RBC's wealth management arm completed the £1.6m acquisition of Brewin Dolphin, which is now operating as RBC Brewin Dolphin.
With the deal finalised, RBC is now set to merge the business with its British isles wealth management subsidiary, Wealth Management International.
As part of the integration, Beer will transition over as CEO of Brewin Dolphin to CEO of the combined businesses in the first half of 2023, the firm confirmed.
Royal Bank of Canada acquires Brewin Dolphin for £1.6bn
RBC's acquisition of Brewin Dolphin, first announced in March this year, created one of the largest wealth managers in the UK Channel Islands and Ireland, with £58bn assets under management as of 31 August 2022.
Beer first joined Brewin Dolphin in 2008 and has been CEO since June 2020. Prior to joining Brewin Dolphin in 2008, he held roles at National Australia Bank, Gerrard and Barclays Wealth.
Performance losses of £4.7bn drag Brewin Dolphin AUM down 8%
RBC has also appointed Dave Thomas as head of RBC Europe from 1 January 2023, reporting to RBC Wealth Management, Insurance and I&TS group head Doug Guzman and Derek Neldner, group head of RBC Capital Markets. He will continue in his role as CEO of RBC Europe Limited.
Thomas has worked at RBC for over three decades, becoming CEO RBC Capital Markets Europe in 2011.
In 2019, he took on additional responsibility for wealth management in the British Isles.
