UBS Asset Management has completed its acquisition of RT Capital Management, which will be renamed Brinson Canada.

RT Capital was the institutional pension fund management division of the Royal Bank. The agreement, as originally announced on June 20, has received regulatory approvals and was signed today by senior members of both organizations.

Brinson Canada will continue under the leadership of president and chief executive officer Michael Wilson. “The speed with which we made this happen reinforces our thoughts about what a great strategic and cultural fit this is for both organizations,” said Wilson. “This combination provides a great opportunity for our clients and for us. We are all looking forward to this next phase in the evolution of our firm.”

The sale of RT came after the firm was tainted by a high closing scandal last summer, yet it was more specifically attributed to RT’s inability to properly serve its clients ever-expanding global investment demands.

“We are very pleased that the process has gone so smoothly and that the transaction has met with the approval of employees, clients and regulators,” said Benjamin Lenhardt Jr., head of UBS Asset Management in the Americas. `”Our expertise in risk management, asset allocation, international investing and alternative investments can now be seamlessly offered to Brinson Canada’s clients.”