| |
RBC's International Wealth Management business appoints
leadership team in Asia
TORONTO, October 6, 2009 — The international
arm of RBC Wealth Management, headquartered in London and
part of the Royal Bank of Canada (RY on TSX and NYSE), Canada's
largest bank and among the largest banks in the world, has
announced the appointments of 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 Management's main hubs in
the region. RBC Wealth Management also has a representative
office in Beijing and a branch in Brunei.
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 Management's Asian
operations, Gunton said: "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. Asia is a high growth region and a
key priority for RBC Wealth Management's international wealth
management business."
Gunton continued: "We believe that our value proposition
is unique. We offer clients the strength and stability Canada's
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 world's 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."
About RBC Wealth Management
The international arm of RBC Wealth Management services over
35,000 high net worth individuals and institutions through
35 offices in the British Isles, Continental Europe, Asia,
the Middle East, the Caribbean, Latin America and North America.
RBC Wealth Management provides integrated and diversified
international wealth management expertise and solutions, asset
management and trust services to high net worth and ultra
high net worth individuals and to corporate and institutional
clients around the world. Services provided by RBC Wealth
Management consultants, advisors, private bankers and trust
officers include trust and estate planning, tax advice, discretionary
investment management and investment advisory services, structured
solutions, banking, lending and global custody. For more information,
please visit www.rbcwminternational.com.
RBC Wealth Management, a segment of RBC, directly serves
affluent and high net worth clients and provides asset management
products and services to institutional and individual clients
through its RBC Global Asset Management division. The business
has more than C$490 billion of assets under administration,
nearly C$240 billion of assets under management and more than
4,500 financial consultants, advisors, private bankers and
trust officers. RBC Wealth Management was recognized as the
Best North American based Wealth Manager by Private Banker
International in October 2009.
About RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries
operate under the master brand name RBC. We are Canada's largest
bank as measured by assets and market capitalization, one
of North America's leading diversified financial services
companies and among the largest banks in the world, as measured
by market capitalization. We provide personal and commercial
banking, wealth management services, insurance, corporate
and investment banking and transaction processing services
on a global basis. We employ approximately 80,000 full- and
part-time employees who serve more than 18 million personal,
business, public sector and institutional clients through
offices in Canada, the U.S. and 53 other countries. For more
information, please visit www.rbc.com.
- 30 -
Media Enquiries:
Greentarget, London
Anna Watson / Phillippa Cantrill
Telephone: +44 (0)20 7680 5052 / +44 (0)20 7680 5063
RBC Wealth Management
Sanam Alaghband / Beverley Weber
Telephone: +44 (0)20 7002 2013 / + 44 (0)20 7029 7685
|
|
