Brian Peters, head of RBC Investments’ Canadian Wealth Management, will become president and chief executive officer of RBC Dain Rauscher effective May 1, 2003.

Peters will succeed Peter Armenio who was appointed president and CEO of RBC Investments in Toronto last week. As part of the management change, RBC Dain’s current CEO and chairman Irving Weiser will step down as CEO on May 1, continuing in his role as chairman.

Peters has had a 22-year career with RBC Investments and, most recently, has been responsible for bringing together the unit’s Canadian teams including full service brokerage, Action Direct, Private Counsel, Private Banking and Private Trust. Peters is also National Director of RBC Investments’ Dominion Securities and is responsible for a network of close to 1,500 investment advisors across Canada.

“With Brian, I know I am leaving the firm in strong hands,” Armenio said. “He has demonstrated the experience, leadership and vision that will serve RBC Dain Rauscher very well.”

Peters was responsible for strategic initiatives for the Private Client Division from 1999-2000. He was also the divisional manager for Quebec and Atlantic Canada from 1997-1999. Between 1986-1997, he held various roles in the Private Client Division including regional manager for Southwestern Ontario, branch manager in London, Ontario, branch manager in Saint John, N.B., and assistant manager in Toronto. Peters joined the firm as an investment advisor in 1980.

He received a bachelor of business administration from the University of Ottawa. His community and industry involvement has been extensive, and currently he is a member of the Ontario Securities Commission Advisory Committee and sits on the board of directors of Synergy Asset Management and CSI Global Education Inc.