Michael Lagopoulos, formerly president and CEO of RBC Wealth Management’s international business, has been appointed deputy chairman, RBC Wealth Management, Ultra High Net Worth (UHNW) – International, Royal Bank of Canada (TSX:RY) said Thursday.

He will focus on developing RBC Wealth Management’s UHNW business by deepening existing relationships and acquiring new UHNW clients outside of Canada.

Lagopoulos’ appointment comes as part of an organizational change by RBC Wealth Management to accelerate the growth of its international business, with a particular focus on serving emerging markets and UK clients in any of its key locations around the world.

Lagopoulos will continue to sit on the boards of RBC Wealth Management’s main international subsidiaries and will also focus on international wealth management acquisitions and alliances.

As part of this restructuring, RBC Wealth Management will move from three geographic businesses to four: Canada, United States, United Kingdom and Emerging Markets.

The new structure will include three cross-border groups — Global Asset Management, Global Trust and Global Wealth Services — reflecting the business’s focus on continued international expansion of its core services.

The new structure, which takes effect November 1, will enable RBC Wealth Management to leverage its diverse businesses to create a full-spectrum client service offering and enhance support for its client-facing professionals.

“We see a tremendous opportunity for growth in areas such as Asia, Latin America, the Middle East and Eastern Europe,” says George Lewis, group head of RBC Wealth Management.

IE