The asset management arm of Royal Bank of Canada has added an industry veteran to its Asian leadership team.

RBC Global Asset Management has hired Ken Tam, formerly of Deutsche Asset & Wealth Management, to lead its business in the Asia-Pacific region.

Tam left his position as Deutsche AWM's managing director and head of global client group, Asia Pacific ex-Japan, earlier this year. He previously spent 19 years at JP Morgan Asset Management, where he served as managing director and head of North Asia.

Based in Hong Kong, Tam replaces Adam Matthews, who will stay with the business until at least the end of the year for a smooth handover. In his new role, he will oversee Asia-Pacific operations, excluding BlueBay Asset Management. He reports to Clive Brown, chief executive and managing director of RBC GAM International.

“The Asia-Pacific region is an important component of RBC Global Asset Management’s international growth plans. Mr Tam’s extensive experience in the Asian asset management industry will help RBC GAM continue to grow and enhance our service to clients in the region,” said Brown.

Tam's departure from Deutsche AWM was one of several recent high-level changes at the bank. In June, the bank appointed a new chief executive, John Cryan, to take over from Anshu Jain and work alongside co-chief Jürgen Fitschen. As reported by this publication, Cryan is now said to be considering the biggest shake-up of the group's management structure in over a decade.

RBC GAM, part of RBC Wealth Management, currently manages over $300 billion in assets worldwide and has more than 1,300 employees.