The international arm of RBC Wealth Management, headquartered in London and part of the Royal Bank of Canada, has appointed Matthew Yong and Frank Mu as President and CEO respectively of its Asia operations and the unification of its Asian operations under one umbrella RBC Wealth Management, Asia.
Yong will be responsible for sales and distribution activities in Asia. Mu will continue to lead the advisory team, while also focusing on client solution support (including trust, discretionary investment management, investment advisory and credit) and functional support (including operations, information technology, human resources, finance, risk and compliance).
Yong is based in Singapore and Mu is based in Hong Kong. These locations form RBC Wealth Managements main hubs in the region. RBC Wealth Management also has a representative office in Beijing and a branch in Brunei.
Matthew and Frank are exceptional leaders and we have a strong team in place to serve the integrated wealth management needs of high net worth and ultra high net worth families in Asia, says Yong and Mu both report to Doug Gunton, Head of Asia and Canadian International Centres, RBC Wealth Management. Commenting on the new appointments within RBC Wealth Managements Asian operations, Gunton. Asia is a high growth region and a key priority for RBC Wealth Managements international wealth management business. We believe that our value proposition is unique. We offer clients the strength and stability Canadas largest bank coupled with a North American capability that is delivered from the key Asian financial centres of Singapore and Hong Kong. In addition, we are extremely well-placed to capitalize on the affinity between Canada and Asia, in terms of increasing flows of trade and immigration between the regions. We remain committed to our clients in the region, and also to those Asian clients who bank with RBC Wealth Management in the Canadian International Centres, which comprise Toronto, Montreal and Vancouver.
Mike Lagopoulos, head of the international arm of RBC Wealth Management, said: Asia is one of our strategic areas for expansion, given the increasing numbers of high net worth clients in the region and their desire to deal with a strong Canadian-based global institution for all of their international wealth management needs. As one of the worlds top 20 wealth managers, we are uniquely positioned to provide high net worth and ultra high net worth individuals in Asia with integrated wealth management services, offering banking and credit, investment advisory, investment management and trust solutions.
D.C.