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RBC Names Golub as Chief U.S. Market Strategist

Royal Bank of Canada (RY) hired Jonathan Golub from UBS AG (UBSN) as chief U.S. market strategist for its investment-banking unit, filling a role left vacant since Myles Zyblock’s April departure. The firm also added two former UBS analysts to cover the consumer industry.

Golub, 49, who joined Zurich-based UBS in 2009 and was chief U.S. equity strategist until he left in June, has 18 years experience including at JPMorgan Asset Management Inc., Toronto-based RBC Capital Markets said today in a statement. Golub is based in New York and reports to Marc Harris, 43, RBC’s co-head of global research. His experience building up UBS’s franchise made him “a perfect fit” for RBC, Harris said in an interview.

“The clients absolutely loved him and thought of him as one of the best assets on the Street,” Harris said. “On our platform, he’s really going to be able to shine.”

Zyblock joined Bank of Nova Scotia (BNS)’s Dynamic Funds in May as chief investment strategist.

Also moving to RBC’s New York office from UBS are equity research analysts David Palmer and Nik Modi, the firm said. Palmer, 43, was previously sector head of UBS’s U.S. consumer group, specializing in packaged food and restaurants. Modi, 37, was UBS’s senior analyst specializing in tobacco and household personal care. Both have similar roles at RBC, with Modi adding additional coverage of beverage companies, the firm said.

“They’re great new hires,” Harris said. “They shine really nicely because they’re well ranked and well thought of by the clients.”

Palmer and Modi replace Jason Gere, Larry Miller and Edward Aaron, who are no longer at RBC Capital Markets, Harris said.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; David Scanlan at dscanlan@bloomberg.net; Christine Harper at charper@bloomberg.net

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