RBC Wealth Management, part of Royal Bank of Canada, has announced new senior executives ahead of the retirement of Michael (Mike) Reed, head of wealth management, Southeast Asia.
After 22 years with RBC in roles across the United States, the United Kingdom, Hong Kong and Singapore, Reed will leave the business in mid-June.
With Reed’s retirement, Nick Chan currently head of private banking, North Asia, will take on a broader remit to lead the firm’s sales and relationship teams across Hong Kong and Singapore. Chan joined RBC Wealth Management in December 2021.
“I would like to wish Mike the very best for the future and thank him for his significant contributions in a long career with RBC across the globe,” says Terence Chow, head of RBC Wealth Management in Asia. “Mike has been a core member of the wealth management leadership team in Asia and has helped to shape and grow our business in the region, with a constant focus on delivering an exceptional client experience. Mike has also played a key role in the wider community, as a staunch supporter of RBC’s charity initiatives, and with the Canadian Chamber of Commerce in Singapore.”
RBC has made four new hires to further strengthen its private banking team in Hong Kong and Singapore. Johann Peck and Audwin Tay have been appointed directors, relationship managers in Singapore. They both report to executive director Lim Yew Geok. Betty Wong joins the firm as director, private banker in Hong Kong. She reports to executive director Anita Wong.
Jessica Hung joins the team in Singapore in the newly created role of director, head of sales management office, Asia. She will support teams to enhance the client and relationship manager experience in areas such as sales effectiveness and analytics, client on-boarding and pipeline management. She reports to Nick Chan.
Prior to joining RBC Wealth Management, Peck held senior roles at HSBC Private Bank and Morgan Stanley supporting high-net-worth clients across banking and investment products and services.
Tay held senior investment and credit roles in an 11-year career at DBS Private Bank and, prior to that, he was private banking relationship manager with Silicon Valley Bank in Palo Alto (California), and at OCBC Private Bank and AIG Private Bank.
Wong previously worked at Bank J. Safra Sarasin as director, client advisory, and prior to that was vice-president at RBS, Coutts Bank, for 10 years, responsible for originating and developing client relationships.
Hung joins RBC after 11 years with Morgan Stanley Asia in private wealth sales, marketing and management positions.
RBC Wealth Management serves families in Asia, particularly those who have international ties with Canada, the US or the British Isles as a result of business interests, employment, property or education.