RBC Wealth Management Appoints Head of Asia
HONG KONG, August 3, 2011 RBC Wealth Management, part of Royal Bank of Canada (RY on TSX and NYSE), today appointed Andrew Turczyniak as Head of Asia. Based in Hong Kong, Mr Turczyniak will be responsible for building RBC Wealth Management's business in Asian markets. He will report to Barend Janssens, Head of Emerging Markets, RBC Wealth Management.
Barend Janssens commented: "Andrew brings with him a wealth of experience as a leader and has established deep relationships in the region, making him the perfect person to develop our business in Asia further. In particular his previous success in strengthening the collaborative efforts between RBC Capital Markets and RBC Wealth Management will allow us to accelerate our growth strategy."
Mr Turczyniak has over 18 years of international banking and capital markets experience. He joined RBC in 1995 and has worked for RBC Capital Markets and Wealth Management in London, Sydney and Hong Kong, where most recently he held the position of Chief Executive Officer, Hong Kong, for RBC Capital Markets. He is also currently the Chairman of the Board of Governors of the Canadian Chamber of Commerce in Hong Kong.
The appointment is the latest move in RBC Wealth Management's development of its Emerging Markets business and its focus on high growth markets including in Asia. It follows the acquisition of the wealth management business of Fortis Wealth Management Hong Kong Limited in November 2010.
One of the world's 10 largest wealth managers, RBC Wealth Management employs over 230 people in its offices in Hong Kong, Singapore, Brunei and Beijing and serves over 1,000 high net worth clients in Asia.
About RBC Wealth Management
Wealth Management, one of the world's top 10 largest wealth managers, directly serves affluent, high-net-worth and ultra high net worth clients in Canada, the United States, Latin America, Europe, the Middle East, Africa and Asia with a full suite of banking, investment, trust and other wealth management solutions. The business also provides asset management products and services directly and through RBC and third-party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has more than C$535 billion of assets under administration, more than C$300 billion of assets under management and approximately 4,500 financial consultants, advisors, private bankers and trust officers.
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, and among the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 79,000 full- and part-time employees who serve close to 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 56 other countries. For more information, please visit rbc.com.
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For more information, please contact:
RBC Wealth Management: Paul French +44 (0)20 7002 2013