Minneapolis-based Voyageur Asset Management is rebranding as RBC Global Asset Management( US). The name change is intended to represent an important step in the firm’s evolution into the US institutional client platform of RBC Global Asset Management.

Mike Lee, chief executive, president and chief investment officer of RBC GAM (US), said: “We are proud to bring the strength and stability of RBC and RBC GAM to our clients. As part of the RBC GAM platform, we look forward to offering clients an expanded array of investment solutions in the coming months.

"There is absolutely demand from clients for global solutions and more complicated risk based solutions," Mr Lee told Reuters, adding that further announcements were likely in the year about added capabilities and new products, including what will eventually be a suite of global fixed income products.

RBC GAM comprises the three asset management firms owned by Royal Bank of Canada: RBC GAM (US), RBC Asset Management and Phillips, Hager & North Investment Management. It had combined assets of more than $187 billion at 31 October 2009.