Singapore and Hong Kong, May 4, 2022 — RBC Wealth Management, part of Royal Bank of Canada (RBC), has today announced the retirement of Michael (Mike) Reed, Head of Wealth Management, Southeast Asia.
After 22 years with RBC in roles across the U.S., UK, Hong Kong and Singapore, Mike will leave the business in mid-June. With Mike’s retirement, Nick Chan currently Head of Private Banking, North Asia will take on a broader remit to lead RBC Wealth Management’s sales and relationship teams across Hong Kong and Singapore. Nick 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,” said 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.”
In support of the bank’s ambitions in the region, RBC has also made four new hires to further strengthen its private banking team in Hong Kong and Singapore.
Johann Peck, Audwin Tay and Betty Wong are the latest senior bankers to join RBC Wealth Management’s experienced team which provides trusted advice and wealth management solutions to support the financial needs of families in Asia, particularly those that have international ties with Canada, the U.S. or the British Isles.¹
Johann joins RBC Wealth Management following senior roles at HSBC Private Bank and Morgan Stanley supporting high-net-worth clients across banking and investment products and services.
Audwin previously 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.
Both Johann and Audwin join as Director, Relationship Manager in Singapore, reporting to Lim Yew Geok, Executive Director.
Betty, who joins RBC Wealth Management as Director, Private Banker in Hong Kong, 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. Betty reports to Anita Wong, Executive Director.
Jessica Hung rounds up the group of latest senior private banker hires, joining the team in Singapore in the newly created role of Director, Head of Sales Management Office, Asia. Jessica 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. Jessica joins RBC after 11 years with Morgan Stanley Asia in private wealth sales, marketing and management positions. Jessica reports to Nick.
Terence Chow added, “Talented individuals in the region continue to choose Royal Bank of Canada to grow their careers due to our size, experience and award-winning culture. Attracting such talent is a key focus as we grow the business and offer a differentiated service to support the complex needs and goals of Asia’s global families – here and around the world.”
¹RBC Wealth Management serves families in Asia that have international ties with Canada, the U.S. or the British Isles as a result of business interests, employment, property or education – a client strategy that it refers to as ‘Asia’s global families’.
Colin Tung, Teneo, +65 6977 6802, Colin.Tung@teneo.com Yuri van der Leest, Teneo, +852 3655 0504, Yuri.vanderLeest@teneo.com Ben Adams, RBC Wealth Management, +44 20 7653 4516, ben.adams@rbc.com
RBC Wealth Management directly serves affluent, high net worth and ultra-high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. 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 C$1.3 trillion of assets under administration, C$1 trillion of assets under management and more than 4,800 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
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