Royal Bank of Canada
BlueBay is a wholly-owned subsidiary of Royal Bank of Canada (“RBC”), one of the largest banks in the world based on market capitalisation and one of North America’s leading diversified financial services companies. RBC carries out its activities in five business segments; Personal and Commercial Banking; Wealth Management; Insurance; Investor and Treasury Services; and Capital Markets. BlueBay forms part of RBC Global Asset Management, a Group included in RBC’s Wealth Management business segment.
As a member of the RBC Group, BlueBay is subject to additional oversight on Corporate Governance matters via RBC’s Subsidiary Governance Office.
BlueBay is an English limited liability partnership, domiciled in the United Kingdom and regulated and authorised by the Financial Conduct Authority. The investment management business of BlueBay was transferred from BlueBay Asset Management (Services) Ltd (“BBAM Services”) to BlueBay’s LLP (“the LLP”) corporate structure on 2 April 2012 and all regulatory permissions and passports held by BBAM Services were transferred to the LLP at this time. This was a positive development for BlueBay and its clients. Key senior employees, including the Senior Portfolio Managers, were made Partners of the LLP, bringing an enhanced sense of ownership and commitment to the future. In total, there are 33 Partners in the BlueBay Group, 5 of whom are designated ‘Overseas Partners’ as they reside outside the UK. The Partnership represents the senior body of key managers and decision makers of the LLP.
The Board is responsible for reviewing the adequacy and effectiveness of the internal controls; the risk management processes and the legal, regulatory and compliance functions. It meets on a quarterly basis; agrees BlueBay’s Group strategic direction; and approves the Group Annual Budget and multi-year Financial Plan. Regular financial information is provided to the Board in addition to the Board Packs, in the form of a monthly Management Accounting Pack.
The Board has established three Group Committees to oversee certain aspects of BlueBay’s business activities; the Remuneration Committee, the Management Committee and the Nomination Committee.
The Remuneration Committee
The Remuneration Committee reviews and approves the remuneration philosophy and policies of the BlueBay Group. It is responsible for setting the remuneration of all Executive Members of the LLP Board and for determining the level and structure of remuneration for senior staff within the Group.
The Management Committee
The Management Committee is responsible for the execution of the business strategy and therefore bears responsibility for ensuring effective management and oversight of the BlueBay business. It coordinates the development of business strategy and reviews overall financial performance against budget. The Members of the Management Committee collectively have direct responsibility for all functions within the firm and receive regular management information reports from the various departments, through regular meetings with the department heads. The Management Committee comprises of the CEO, CIO, COO-CRO, General Counsel and the Global Head of Business Development. The Management Committee meets monthly.
The Nomination Committee
The Nomination Committee is responsible for appointing new Members to the Board and the Management Committee, collectively known as “the Management Body”.
The Committee was established pursuant to the requirements of the FCA rules. The Committee engages a broad set of qualities and competencies when recruiting and for that purpose it is responsible for putting in place a policy for promoting diversity on the Management Body.
The Committee comprises of two Independent Non-Executive Board Members and one Non-Executive Board Member. No Member of the Management Body who performs any executive function shall be a Member of the Committee. It meets shall ordinarily be held bi-annually and at such other times as required.
Environmental, Social and Governance
To find out more about our approach to Environmental, Social and Governance (“ESG”) with regards to the investment process please refer to the ESG section of the site.
For information about BlueBay’s approach to its day-to-day activities with regards to staff, the marketplace, community and the environment, please refer to our Corporate Responsibility section.
Investor Disclosure Statement and Explanatory Statement
BlueBay Asset Management LLP (‘BBAM’) is a signatory to the standards set out by the Standards Board for Alternative Investments (SBAI). To conform to the Standards, BBAM is required to make a disclosure statement available to investors, which sets out those Standards with which BBAM does not fully comply, and an explanatory statement detailing why it does not comply. This document is the statement which fulfils both requirements.
Download full document: SBAI Disclosure Statement 2018