Hong Kong, June 9, 2021 — RBC Wealth Management, part of Royal Bank of Canada (RBC), has further strengthened its position in Asia through the appointment of four new senior bankers to serve the financial and wealth planning needs of high-net-worth (HNW) and ultra-HNW (UHNW) clients.
Vincent Cheng, Ellis Lau, Leo Zhang and Yoon Tae-Jung are the latest directors to 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 families1.
“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,” said Ignatius (Iggy) K.K. Chong, RBC Wealth Management’s Head of Private Banking for Greater China. “We continue to hire experienced bankers who can build a deep understanding of our clients’ priorities and objectives and draw on RBC’s international experience to help them navigate these challenges.”
Vincent Cheng and Ellis Lau report to Xygent Chan, who joined RBC as Executive Director, Team Head earlier this year. Cheng joins from Bank of Singapore in Hong Kong, where he was a relationship manager, and previously held similar roles at Hang Seng Bank, BNP Paribas Wealth Management and Bank of Communications. Lau joins RBC from Glory Sun Securities Limited, where he was Investment Solutions Director. Prior to that, 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 held a similar role supporting families with international wealth management needs. Yoon joins from Hope Chain Asset Management in Hong Kong. He previously held 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 its wealth management division in the region over the past year, including nine in Hong Kong.
RBC Wealth Management operates in Asia through its Hong Kong and Singapore offices, providing a full suite of banking, investment, trust and other wealth management solutions. With a strong focus on the evolving needs of wealth management clients, the private bank continues to enhance its product and digital capabilities, including through a partnership with iCapital Network, announced in December 2020, which extended RBC Wealth Management’s alternative investments offering.
Re-disseminated by The Asian Banker