Doce Tomic resigned as head of Canadian wealth management at the asset-management arm of Royal Bank of Canada after a head-office shuffle at the bank.
The Canadian wealth-management division had assets under administration of $142.8 billion as of Oct. 31 and fiscal 2003 revenue of $1.2 billion, according to the bank’s annual report.
Some of Tomic’s responsibilities will be handled by George Lewis, who becomes head of brokerage, asset management and products, bank spokeswoman Beja Rodeck said.
Earlier this month, Royal Bank CEO Gordon Nixon replaced three senior bankers and hired the head of the Toronto Stock Exchange in a management overhaul. He also reduced the number of units at the Toronto-based lender to three from five.
The Canadian wealth-management division had 1,320 investment advisers and 115 investment representatives as of the end of October. Tomic was named head of the business in May 2003. The veteran of about 15 years with RBC Investments previously ran the bank’s Action Direct online brokerage.
Lewis was previously chief executive officer of the firm’s Royal Mutual Funds arm.