RBC Global Asset Management (RBC GAM), the asset management division of Royal Bank of Canada (RBC), has announced a series of leadership changes with the appointment of Damon Williams and Alex Khein as co-CEOs.

John Montalbano, the present CEO of RBC GAM, will assume the role of vice-chairman of RBC Wealth Management.

In their new roles effective May 1, 2015, Williams, Khein and Montalbano will report to the group head of RBC Wealth Management and RBC Insurance, George Lewis.

Prior to joining RBC GAM, Williams served Phillips, Hager & North Investment Management, the Vancouver-based money manager bought by Royal Bank in 2008 while Khein came from BlueBay Asset Management, the U.K.-based firm Royal Bank acquired in 2010.

The leadership transition which was initiated by Montalbano will see him supporting business development and special projects for RBC Wealth Management and other RBC businesses, apart from providing advice and counsel to the co-CEOs of RBC GAM.

George Lewis said: "John has had an exceptional tenure as CEO. RBC GAM has had a consistent trajectory through this timeframe, even within challenging market conditions, with strong growth in assets under management, investment performance and capabilities, and international expansion.

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Today, RBC GAM is a leading global asset manager with over C$ 350bn in assets under management and 23 investment teams across North America, Europe and Asia."