US - Investment house UBS Asset Management (UBS AM) has completed its acquisition of RT Capital Management - the institutional pension fund management division of the Royal Bank of Canada.
RT Capital will now be known as Brinson Canada and will be headquartered in Toronto. The firm has about C$30bn (US$20bn) assets under management for pension funds, foundations, endowments and financial intermediaries in Canada
We are very pleased that the process has gone so smoothly and that the transaction has met with the approval of employees, clients and regulators, said Benjamin Lenhardt Jr, head of UBS AM in the Americas.
Brinson Canada will continue under the leadership of president and chief executive officer Michael Wilson, who served as Canada's Federal Minister of Finance between 1984 - 1991.
By Madhu Kalia
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