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Rating:Appelstein Adds an RBC GAM National Accounts Chief and More Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 30, 2014

Appelstein Adds an RBC GAM National Accounts Chief and More

Reported by Neil Anderson, Managing Editor

Matthew Appelstein continues to expand RBC Global Asset Management's [profile] distribution force, and more new hires are on their way.

Today Appelstein, head of U.S. sales and distribution at RBC GAM, confirmed the addition of: Theresa Goldberg as head of national accounts in the U.S.; Taham Mahimwalla and Ashly Hyotte as institutional portfolio managers; and Frank Berry, Aidan Forde, Chris Powers and Chad Simmons as directors of platform sales. All are filling newly created posts, and indeed the six-person platform sales team under Goldberg is entirely new. Watch for Appelstein to make two more hires soon.

"It's a great growth story right now," Appelstein tells MFWire, pointing also to the PM teams RBC is hiring and to the mutual funds and other products it's launching. "It's about people and product and the significant investment that the bank is making in the global asset management business."

Looking ahead, as RBC GAM lifts out more PM teams, Appelstein expects to hire more institutional PMs and product managers to support those teams. And he's also looking to hire institutional sales folks.

"We're not done adding," Appelstein says.

As for the latest round of additions, Appelstein praises Goldberg as having "a really good combination of investment acumen and relationship skills that we think are critical." Prior to joining RBC, Goldberg worked in the Eli Broad Foundation's urban education program, and she spent a decade at Goldman Sachs.

Mahimwalla hails from Wellington and Hyotte from BlackRock. Chicago-based Mahimwalla supports RBC GAM's Chicago-based small-to-mid cap growth equities team, and Boston-based Hyotte supports RBC GAM's London-based emerging market equities team. Both split their time between investment team meetings with the other PMs on the one hand and traveling with the sales and distribution folks and meeting clients on the other. The idea, Appelstein says, is for Hyote and Mahimwalla to travel and talk to clients and prospects to avoid distracting PMs from their day-to-day work. 

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