Voyageur Asset Management Inc. of Minneapolis, which was sold to Royal Bank of Canada in 2008, announced Tuesday that its name is now RBC Global Asset Management Inc.

Mike Lee, Voyageur's chief executive, president and chief investment officer, said in a press release that his unit will be expanding its investment product offerings in the next few months.

The new name went into effect Jan. 1.

RBC Global Asset Management consists of the three asset management firms owned by Royal Bank of Canada: RBC Global Asset Management, RBC Asset Management Inc., and Phillips, Hager & North Investment Management Ltd. The companies had $187 billion of combined assets under management as of Oct. 31. and offices in the U.S., Canada, Europe and Asia.

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