Over the past year, the bank has recruited several new relationship managers to join its wealth management division in the region, including nine in Hong Kong.
RBC Wealth Management today said that it has appointed four new senior bankers to serve high net worth and ultra-HNW clients.
Vincent Cheng, Ellis Lau, Leo Zhang and Yoon Tae-Jung join RBC’s relationship management team in Hong Kong. They will provide trusted advice and wealth management solutions to clients in the region who have ties globally, especially to Canada, the US and the UK, a segment that RBC Wealth Management refers to as Asia’s global families.
“Wealthy families in Greater China and across Asia are increasingly operating across borders, which brings complexities in terms of investments, tax residency and wealth transfer across multiple jurisdictions,” Ignatius (Iggy) KK Chong, RBC Wealth Management’s head of private banking for Greater China, said.
Vincent Cheng and Ellis Lau report to Xygent Chan, who joined RBC as executive director, team head earlier this year. Cheng is joining from Bank of Singapore in Hong Kong, where he was a relationship manager. He previously worked in similar roles at Hang Seng Bank, BNP Paribas Wealth Management and Bank of Communications. Lau is joining from Glory Sun Securities Limited, where he was investment solutions director. Prior to this, Lau worked at CM Securities, UBS, Aon and Macquarie Capital Limited in client-facing and investment banking roles.
Leo Zhang and Yoon Tae-Jung report to Shirley Tang, managing director and team head, and Angel Choy, executive director, team head, respectively. Zhang transferred to Hong Kong from RBC in Toronto, where he was in a similar role supporting families with international wealth management needs. Yoon is joining from Hope Chain Asset Management in Hong Kong. He previously worked in relationship management roles at BNP Paribas and EFG Bank AG, and investment banking positions at Blue Ocean Strategic Capital Management, Hyundai Securities and Tong Yang Securities.
To support RBC’s growing client base amid rapid accumulation of wealth in Asia, the bank has recruited several new relationship managers to join its wealth management division in the region over the past year, including nine in Hong Kong.
Among recent developments, in December 2020 RBC partnered with iCapital Network, the fintech platform for alternative investments such as private equity and hedge funds.