Vijay Parmar has been appointed president of RBC Phillips Hager & North Investment Counsel Inc., subject to regulatory approval, the company announced on Tuesday.

Parmar will begin his new role at the private client investment counselling firm, which is a division of RBC Wealth Management, in mid-September.

Parmar joined RBC Dominion Securities in 1994 and was most recently branch manager, vice-president and director of RBC Dominion Securities, in Vancouver.

“Vijay’s experience, skills and commitment to providing exceptional service to our clients made him a natural choice to lead our discretionary wealth management business during its next stage of growth,” commented George Lewis, group head of RBC Wealth Management. “He will be working closely with RBC Global Asset Management, which is central to RBC PH&N IC’s business strategy and service offering for clients.”

“I look forward to the opportunity to focus my efforts on enhancing the strong relationships we have with our clients and helping our investment counselors be as effective as possible,” said Parmar.

Darrell Oswald and Patrick Keeley were previously co-presidents of RBC PH&N Investment Counsel, and contributed to the integration of RBC and PH&N’s discretionary private client businesses.

Oswald has decided to return to his primary interests, dealing directly with clients and mentoring our investment counsellors in Vancouver as part of the RBC PH&N IC team. He will make this transition by October 31st, and in the interim period will work closely with Parmar to ensure a seamless transition in management, the company said.

Keeley is leaving RBC after five years with the organization.