Peter Armenio, president and COO of RBC Dain Rauscher’s Private Client Group, will become president and COO of RBC Dain Rauscher, effective Jan. 1, 2002.

Irv Weiser, the firm’s chairman and chief executive officer, announced the news today.

In his new role, Armenio will continue to report to Weiser and will become responsible for Fixed Income Capital Markets and Voyageur Asset Management in addition to his current responsibilities.

Armenio will focus on driving the firm’s revenue growth, including maximizing profitability and efficiencies across business lines and with RBC. “Our goal is to continue providing the highest level of service to our clients and employees, while capitalizing on the national platform that we’re building with the integration of Tucker Anthony Sutro,” Armenio said.

While Armenio focuses on revenue growth within the firm’s current business lines, Weiser will turn his attention to the next phase of RBC Dain’s strategy. “We are entering a new era for RBC Dain Rauscher,” Weiser said. “In the months ahead, we will be defining our vision for the future and laying out our strategy for long-term growth as we become fully integrated within RBC Financial Group.”

As part of this reorganization, Charley Grose, currently national director of the private client group, will become president of Private Client Group branches, continuing to report to Armenio.

Armenio joined the firm in January 2001 following 18 years at RBC Dominion Securities. He started there as a financial consultant and progressively held the titles of branch manager, regional manager, divisional manager, national sales manager and head of the private client division. Born in New York, Armenio grew up in Montreal and has a business degree from Concordia University in Montreal. He is a fellow of the Canadian Securities Institute.