RBC Investor & Treasury Services (I&TS) has appointed Kevin O’Neill as part of its expanded coverage for U.S.-based asset managers.
These managers, who already account for 54% of assets under administration or custody of funds domiciled in Ireland and 24% of those in Luxembourg, are increasingly seeking growth outside of their traditional domestic markets, says RBC I&TS.
O’Neill, who is managing director, Asset Managers – North America is based in New York and leads business development towards U.S. asset managers seeking offshore fund services – particularly UCITS, private equity and real estate fund structures.
O’Neill will oversee U.S. Sales and Distribution after eight years with RBC, most recently as segment head for Sovereign Wealth Funds & Central Bank Sales. Prior to joining RBC, O’Neill was responsible for business development of offshore fund services with Mellon Financial in Dublin, Ireland.
“With Kevin and his team in New York, we are well-positioned to provide U.S.-based fund managers with fund administration and distribution services delivered from Luxembourg and Ireland, in support of their cross-border strategies,” says Harry Samuel, CEO for RBC Investor & Treasury Services.
To support O’Neill’s appointment, RBC I&TS has also hired David Giannone and Bill Muia as Directors, U.S. Sales and Distribution. Giannone was most recently with BNP Paribas Securities Services where he was responsible for offshore business development with U.S. traditional and alternative asset managers.
Muia was most recently with JP Morgan where he was responsible for global business development in the asset manager segment.