Four years in, a distribution leader is taking over a $13-billion mutual fund family as a 16-year company veteran exits.

David John "Dave" Eikenberg RBC Global Asset Management Head of U.S. Intermediary Sales, Incoming President of RBC Funds

Dave Eikenberg will become president of RBC Funds for RBC Global Asset Management-U.S. (RBC GAM-U.S. [profile]), a spokesperson for the asset manager confirms. The spokesperson adds that Eikenberg succeeds outgoing RBC Funds president Kathleen Gorman, who is leaving RBC GAM. (Gorman also serves on RBC GAM-U.S.'s executive, management, and product committees, and as an RBC Funds trustee.)

Eikenberg will also continue to serve as head of U.S. intermediary and subadvisory sales for RBC GAM-U.S., and he will continue to report to Mike Lee, head of North American institutional at RBC GAM. RBC Funds now has about $13.4 billion in AUM, including $5.1 billion across 18 long-term mutual funds (including U.S. equity funds, global and international equity funds, and fixed income funds). A spokesperson for RBC GAM notes that RBC Funds' long-term fund AUM is up from $2.1 billion when Eikenberg joined four years ago.

Before moving to RBC GAM in 2018, Eikenberg led DC I-O and VA subadvisory channels at T. Rowe Price. Earlier, he spent more than 17 years at Legg Mason. He is an alumnus of the Johns Hopkins University.

Gorman joined RBC GAM-U.S. in 2006, serving as chief compliance officer before rising to RBC Funds president. Earlier, she held compliance roles at RiverSource and U.S. Bancorp. She is an alumna of Michigan State University. 

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