News Release

RBC Global Asset Management Inc. Appoints Sub-Advisor for RBC Private EAFE Equity Pool

TORONTO, October 27, 2011 — RBC Global Asset Management Inc. today announced that effective Monday, October 31, 2011, EARNEST Partners, LLC (Earnest) has been appointed as sub-advisor for the RBC Private EAFE Equity Pool.

Earnest is an independent, employee-owned asset management firm currently advising on more than US$15 billion in assets for clients around the world. The firm manages portfolios for more than 300 clients including corporations, government pension funds, sovereign wealth funds, jointly-trusteed plans, endowments and foundations. The firm is also engaged in sub-advisory relationships with a number of global financial institutions.  Earnest is headquartered in Atlanta, GA with representative offices in Beijing and Hong Kong.

About RBC Global Asset Management and RBC Wealth Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) which includes institutional money managers Phillips, Hager & North Investment Management (PH&N), RBC Global Asset Management (U.S.) and BlueBay Asset Management. RBC GAM is a provider of global investment management services and solutions to individual, high net worth and institutional investors through mutual funds, pooled funds, hedge funds, segregated accounts and specialty investment strategies. RBC GAM group of companies manage more than $250 billion in assets and have approximately 1,000 employees located across Canada, the United States, Europe and Asia.

RBC Global Asset Management is part of RBC Wealth Management which is one of the world’s top 10 largest wealth managers. RBC Wealth Management directly serves affluent, high-net-worth and ultra high net worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$525 billion of assets under administration, more than C$310 billion of assets under management and approximately 4,500 financial consultants, advisors, private bankers and trust officers.

MEDIA ENQUIRIES

Leah Commisso
Corporate Communications
RBC Global Asset Management
Canada and U.S.
416-955-6498
leah.commisso@rbc.com
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