Appelstein Preps a Big Distribution Push at RBC
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Monday, January 28, 2013

Appelstein Preps a Big Distribution Push at RBC

RBC Global Asset Management [profile] is bringing out the big guns to gain ground in the retail and consultant sales spaces.

"We've invested a lot in bringing in people in distribution, on the investment side, on the retailing side and in the marketing side," U.S. distribution head Matthew Appelstein recently told MFWire. "We've made some significant enhancements."

For example, last year Appelstein brought in two senior sales executives: Gerry Cosgrove as head of consultant relations and Mike REfojo as head of institutional sales.

RBC's new hires last year include:
Business Development
Total Staff of 9 -- 5 New Hires (Includes Head of Sales)

Consultant Relations
Total Staff of 5 -- 2 New Hires (Includes Head of Consultant Relations)

Product Management
Total Staff of 2 - 2 New Hires (Includes Head of Product Management)

Investment Professionals
5 New Hires

1 New Hire (Head of Marketing)

RBC now markets 14 funds in the U.S.: three money market funds and 11 other mutual funds. In the U.S., it manages $43 billion in assets.

"We have had a tremendous amount of momentum in asset raising. We have a variety of products that help client solve their investing needs," he said.

Appelstein says the company is active in product development in the U.S. having seeded between three and ten funds for evaluation.

"We have to see where the market is going," he said.

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