RBC Dexia Appoints New Managing Director for Swiss Office

ZURICH, July 6 /CNW/ - RBC Dexia said today it has appointed Marco Siero as Managing Director of its Switzerland office, based in Zurich. He will be responsible for driving further growth of the company's operations in Switzerland, as well as managing RBC Dexia's regulatory relationships for this key centre.

Mr. Siero will be aligning the country strategy to the enterprise, ensuring high client satisfaction, directing sales and relationship management efforts, leading the local management committee, and managing the regulatory relationship and employee base. He will report to Simon Shapland, Head, Sales & Distribution-Continental Europe.

With almost 20 years experience in the investor services industry, Mr. Siero joined RBC Dexia in 2008, prior to which he held various key positions in the Global Transaction Services division of Citigroup. Before this, he was General Manager of Morgan Stanley's Asset Management operations in Luxembourg. His career in the financial services industry began in 1991 with Kas Bank as Client Service Manager for Dutch pensions funds and insurance companies.

Mr. Siero was most recently Director of Relationship Management at RBC Dexia in Luxembourg, where he focused on large multi-market clients.

Simon Shapland, Head, Sales & Distribution-Continental Europe, at RBC Dexia commented: "We are very pleased to welcome Marco to the RBC Dexia management team. His appointment is a reflection of our commitment to the Swiss market, where we provide both onshore and offshore services to the leading asset managers in this important financial centre. Marco will support RBC Dexia's growing client base, bringing a significant depth of industry knowledge and expertise to future and existing clients."

RBC Dexia Investor Services recently received top scores in seven key categories in the 2010 Global Investor Global Custody Survey, including No. 1 overall for the Americas and EMEA. RBC Dexia also excelled in the annual R&M Consultants Global Custody Survey, and was ranked the number one service provider by fund managers and number one for Europe in Global Custodian's 2009 Global Custody Survey. RBC Dexia was also named Global Custody: Client Relationship Manager of the Year in ICFA's 2009 Global Awards.

About RBC Dexia Investor Services

RBC Dexia Investor Services offers a complete range of investor services to institutions worldwide. Our unique offshore and onshore solutions, combined with the expertise of our 5,300 professionals in 16 markets, help clients grow their business and sustain enhanced performance through efficiency improvements and robust risk management practices.

Equally owned by RBC and Dexia, the company ranks among the world's top 10 global custodians with USD 2.5 trillion in client assets under administration.

www.rbcdexia.com

For further information: Alex Clelland, London, [phone], [email protected]