{"id":14799,"date":"2025-10-14T13:16:23","date_gmt":"2025-10-14T17:16:23","guid":{"rendered":"https:\/\/www.rbcwealthmanagement.com\/en-asia\/?post_type=rbcwm_newsroom&#038;p=14799"},"modified":"2025-10-14T13:22:02","modified_gmt":"2025-10-14T17:22:02","slug":"rbc-wealth-management-scaling-global-trust-with-local-precision-in-asia","status":"publish","type":"rbcwm_newsroom","link":"https:\/\/www.rbcwealthmanagement.com\/en-asia\/newsroom\/2025-10-14\/rbc-wealth-management-scaling-global-trust-with-local-precision-in-asia","title":{"rendered":"RBC Wealth Management: Scaling global trust with local precision in Asia (hubbis)"},"content":{"rendered":"\n<div class=\"wp-block-rbcwm-captions rbc-caption rbc-caption-full\"><span><div aria-label=\"an image of https:\/\/www.rbcwealthmanagement.com\/en-asia\/wp-content\/uploads\/sites\/8\/2025\/09\/Kam-Azim-320x320-1.png\" role=\"img\" class=\"rbc-caption-avatar rbc-caption-avatar-small \trbc-caption-avatar-circle \" style=\"background-image:url(https:\/\/www.rbcwealthmanagement.com\/en-asia\/wp-content\/uploads\/sites\/8\/2025\/09\/Kam-Azim-320x320-1.png)\"><\/div><\/span><div id=\"rbc-caption-content-link-title\" class=\"rbc-caption-content\" title=\"View profile\"><span class=\"rbc-caption-title\" id=\"rbcwd-custom-captions-title\">Kamran Azim<\/span><span class=\"rbc-caption-text \trbc-caption-text-small\">Managing Director and Head of Private Banking, Singapore<\/span><a href=\"https:\/\/www.rbcwealthmanagement.com\/en-asia\/people\/kamran-azim\" class=\"rbc-caption-link link-chev rbc-caption-text-small\" aria-label=\"Link to new page\">View profile<\/a><\/div><\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-rbcwm-well well is-style-b-blue-tint-4\">\n<p>As Asia\u2019s wealth landscape matures, global banks are recalibrating their regional strategies to meet the evolving needs of high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients. For RBC Wealth Management, the private banking arm of Royal Bank of Canada (RBC), this journey is marked by scale, stability, and a steady commitment to long-term relationships. Kamran Azim, Managing Director and Head of Private Banking, Singapore, outlines the bank\u2019s expanding presence across Asia, its differentiators in a crowded field, and why trust structures and cross-border continuity are central to client retention. With over 1,500 staff across Asia-Pacific and key booking centres in Singapore and Hong Kong, RBC is anchoring its regional strategy in governance strength, discretionary advice, and intergenerational wealth planning. In conversation with Hubbis, Azim unpacks how a Canadian heritage, a global platform, and selective growth are converging to shape RBC\u2019s value proposition in Asia\u2019s private banking arena.<\/p>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-a-quiet-giant-s-asia-strategy\">A Quiet Giant\u2019s Asia strategy<\/h3>\n\n\n\n<p>Globally, RBC operates in 29 countries, serves 19 million clients, and ranks as the 11th largest bank in the world by market capitalisation. In Asia-Pacific, its presence spans Singapore, Hong Kong, China, Japan, Australia, and a shared services hub in Putrajaya, Malaysia. The wealth management division oversees close to CAD5 trillion (USD3.624 trillion) in assets under administration, supported by approximately 6,000 advisers across North America, Europe, and Asia.<\/p>\n\n\n\n<p>\u201cOur wealth business is expanding here and we\u2019re marking 50 years in Singapore this year,\u201d says Azim. \u201cWe are organically growing the platform by hiring the right relationship managers, scaling assets under administration, and enhancing the product, credit and onboarding experience across the region.\u201d<\/p>\n\n\n\n<p>The firm\u2019s Asia strategy focuses on markets such as Hong Kong, mainland China, Taiwan, Singapore, Malaysia, Thailand, Indonesia and the Philippines. Core booking centres in Singapore and Hong Kong are critical due to their legal frameworks, regulatory clarity, and status as international financial hubs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-a-strong-counterparty-a-deeper-bench\"><strong>A strong counterparty, a deeper bench<\/strong><\/h3>\n\n\n\n<p>From an institutional perspective, RBC is a compelling counterparty. It maintains a double-A credit rating, is classified as a global systemically important bank (G-SIB), and operates with a risk and governance framework that Azim says resonates with both clients and advisers.<\/p>\n\n\n\n<p>\u201cBeing G-SIB classified sends a strong message about our stability and oversight,\u201d he explains. \u201cIt means we\u2019re held to the highest standards globally.\u201d<\/p>\n\n\n\n<p>The bank also maintains trust companies in Singapore, the Channel Islands, and the United States, with a bank-owned trust company in Singapore serving as a regional anchor.<\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-pullquote has-primary-color has-text-color has-link-color wp-elements-3a827ecd983a32d39e30723594d88954\"><blockquote><p>\u201cThere aren\u2019t many bank-owned trust companies operating in Asia. That\u2019s a key differentiator, especially for UHNW families exploring legacy planning and intergenerational wealth structures.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-not-just-another-rm-role-a-career-platform\">Not just another RM role: A career platform<\/h3>\n\n\n\n<p>Azim places significant emphasis on team building and adviser support. RBC\u2019s approach to relationship manager (RM) recruitment is deliberately rigorous. \u201cWe interview them thoroughly; they speak to six or seven of us. It\u2019s a two-way process so that we truly understand each other,\u201d he notes.<\/p>\n\n\n\n<p>Once on board, RMs receive comprehensive onboarding and ongoing support from sales managers, business heads and product specialists. \u201cWe don\u2019t just hand them a stack of documents and expect them to figure it out. They\u2019re surrounded by a team from day one.\u201d<\/p>\n\n\n\n<p>This long-term mindset reflects Azim\u2019s own tenure, 18 years with the bank, and that of his leadership team.<\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-pullquote has-primary-color has-text-color has-link-color wp-elements-493d58104d6827fb41325d7fe4038685\"><blockquote><p>\u201cWe\u2019re not here for short-term wins. We\u2019re committed to building something enduring with our advisers.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-platform-depth-discretionary-credit-and-trust\"><strong>Platform depth: Discretionary, credit and trust<\/strong><\/h3>\n\n\n\n<p>RBC\u2019s investment platform combines in-house discretionary portfolio management, anchored by a global portfolio advisory committee, with bespoke regional views developed in Asia. The discretionary offerings are deployed locally and integrated into broader global advisory models.<\/p>\n\n\n\n<p>On the credit side, RBC deploys its balance sheet selectively, offering Lombard lending, structured solutions, and mortgages across Canada, Singapore and Hong Kong for eligible HNW and UHNW clients. \u201cWe lend with prudence but with confidence,\u201d Azim explains. \u201cAnd we support our clients through the decision-making process.\u201d<\/p>\n\n\n\n<p>Trust and succession planning also remain central pillars. \u201cOur strength lies in discovery-led planning,\u201d he adds. \u201cWe help clients navigate global family structures through our trust and wealth planning capabilities.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-outperformance-and-opportunistic-thinking\"><strong>Outperformance and opportunistic thinking<\/strong><\/h3>\n\n\n\n<p>Azim notes that RBC\u2019s discretionary portfolios recently outperformed peers and benchmarks following a timely call to maintain equal weight on equities. \u201cThat was post-liberation day,\u201d he recalls. \u201cNot everyone on the street made that call. It shows that we don\u2019t just follow consensus, we think independently.\u201d<\/p>\n\n\n\n<p>This conviction extends to the bank\u2019s lending strategy. Azim, who has spent much of his career in credit, highlights the importance of deploying capital at the right time, in the right way. \u201cIt\u2019s not about leverage for its own sake. It\u2019s about enabling clients to act when the opportunity is right, whether that\u2019s acquiring assets, businesses, or diversifying globally.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-global-reach-for-a-global-generation\"><strong>Global reach for a global generation<\/strong><\/h3>\n\n\n\n<p>While many Asian private banks promise global connectivity, RBC\u2019s Canadian roots and strong North American platform provide practical execution capability for cross-border clients. \u201cNext-gen clients from Asia are increasingly spread across cities like Vancouver, Los Angeles and London,\u201d says Azim. \u201cWe can support them, whether it\u2019s mortgages, account setups, or structuring, for families that straddle jurisdictions.\u201d<\/p>\n\n\n\n<p>This connectivity is particularly valuable for family offices and single-family-offices (SFOs) navigating succession across multiple regulatory regimes. \u201cIt\u2019s not just about financial products, it\u2019s about understanding local tax, legal and reporting requirements across borders, so that they can make meaningful decisions around these,\u201d he adds.<\/p>\n\n\n\n<p>RBC\u2019s collaborative model allows bankers in Asia to work closely with teams in Canada, the United States and the United Kingdom, ensuring seamless service across continents.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-looking-ahead-growth-but-selective\"><strong>Looking ahead: Growth, but selective<\/strong><\/h3>\n\n\n\n<p>Despite its institutional scale, RBC is not pursuing growth at all costs. Instead, the focus remains on quality, of hires, client relationships, and solutions.<\/p>\n\n\n\n<p>\u201cWe want advisers who believe in a long-term career,\u201d says Azim. \u201cWe want clients who value depth, not just breadth. And we\u2019re building a platform that supports both.\u201d<\/p>\n\n\n\n<p>In a market where many firms compete on product proliferation or speed of expansion, RBC\u2019s strategy stands out for its restraint, and its readiness. \u201cWe have the right to win here in Asia,\u201d he concludes. \u201cWe\u2019re focused on our people, our clients, and the appropriate structures to make sure they are well-supported from day one and for many years to come.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-key-priorities\">Key Priorities<\/h3>\n\n\n\n<p>For Azim, the roadmap for growth in Asia is defined by three interlocking priorities: organic scale, productivity uplift, and meaningful Artificial Intelligence (AI) integration.<\/p>\n\n\n\n<p>\u201cOur first priority is straightforward: we want to grow this business organically, and we\u2019ve been very public about that,\u201d Azim explains. But this growth is far from indiscriminate. The firm is focused on selectively expanding its bench of relationship managers (RMs) across Hong Kong and Singapore, targeting talent aligned with RBC\u2019s core markets across Asia.<\/p>\n\n\n\n<p>\u201cWe want the right RMs, those who understand our key markets and can scale their book in a meaningful way,\u201d he adds. This careful expansion ties into a broader vision of sustainable growth rooted in local knowledge, product relevance, and long-term career paths.<\/p>\n\n\n\n<p>A second, parallel focus is on productivity, both for existing RMs and new hires. RBC is investing heavily in the infrastructure that supports adviser efficiency, from onboarding tools to operations and product access. \u201cWe know that client experience is shaped from the very beginning, and if we can give our RMs an edge there, that becomes a competitive advantage,\u201d Azim says.<\/p>\n\n\n\n<p>This approach reflects RBC\u2019s internal ethos: that seamless RM enablement translates directly into superior client service. \u201cAdvisers want to feel that they\u2019re walking into a platform that\u2019s ready for them, not one they have to build themselves,\u201d he notes.<\/p>\n\n\n\n<p>The third priority is more forward-looking: the development and deployment of AI across the business. RBC has rolled out \u201cRBC Assist\u201d, an in-house developed genAI employee tool designed to improve workflows, reduce time-intensive manual tasks, and enhance decision-making for employees to focus on higher-value, more meaningful work.<\/p>\n\n\n\n<p>&nbsp;\u201cWe have publicly committed to generating CAD700 million to 1 billion (USD500 million to 724 million) in enterprise value derived through AI by 2027, and Asia is expected to contribute meaningfully to that,\u201d Azim says.<\/p>\n\n\n\n<p>In this context, AI is seen not as a replacement for human advisers, but as an augmentation, freeing up time, refining insights, and allowing RMs to focus on higher-value engagement. \u201cIt\u2019s about making our people faster, sharper, and more client-centric,\u201d Azim explains. \u201cIf we do that right, everyone wins.\u201d<\/p>\n\n\n\n<p>Together, these priorities, strategic hiring, RM productivity, and AI deployment, form the backbone of RBC\u2019s next chapter in Asia. It is a growth plan rooted in selectivity, not scale for scale\u2019s sake; in enablement, not just expansion; and in transformation that serves both clients and advisers in equal measure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-into-the-future-competing-in-an-ai-defined-landscape\">Into the Future: Competing in an AI-Defined Landscape<\/h3>\n\n\n\n<p>Azim is unequivocal about the force that has the potential to shape the future of private banking: Artificial Intelligence (AI). But unlike the alarmist predictions that often dominate headlines, his outlook is more pragmatic than apocalyptic. For Azim, AI is not just another wave of disruption, it\u2019s a generational change that will redraw the competitive boundaries of the industry.<\/p>\n\n\n\n<p>\u201cIn the coming years, AI could help level the playing field,\u201d he says. \u201cSmaller or less dominant players will suddenly be able to compete head-on with the big incumbents, not by matching them in size or legacy infrastructure, but by using genAI tools in a smarter way.\u201d<\/p>\n\n\n\n<p>This democratisation of capability, he notes, will pressure all firms, large or small, to rethink how they differentiate. As AI accelerates access to similar products, services, and digital experiences, the real competitive edge will lie elsewhere. \u201cIt will come down to the individual,\u201d he says. \u201cThe adviser. The support team. It\u2019s our people and how they utilize the technology.\u201d<\/p>\n\n\n\n<p>That said, Azim makes no attempt to downplay the pace or scale of the transformation. \u201cIt would be shortsighted to suggest AI won\u2019t have a dominant effect on what we do over the next five to ten years,\u201d he says.<\/p>\n\n\n\n<p>The challenge now, he adds, is not just adoption, it\u2019s adaptability. \u201cHow do we roll this out to our staff and encourage them to embrace it? How do we ensure it adds value to clients, not just internally? And how do we compete when the playing field becomes flatter, faster, and more crowded?\u201d<\/p>\n\n\n\n<p>Azim\u2019s view of the future is not defined by fear, but by readiness. In his eyes, the winners in tomorrow\u2019s wealth management landscape won\u2019t be those who simply acquire the best technology, they\u2019ll be the ones who use it to amplify the client experience.<\/p>\n\n\n\n<p>\u201cUltimately, AI is a tool. The question is: how do you wield it? In the face of all this automation, our goal remains the same, to deliver advice and support that\u2019s relevant, timely, and deeply personal.\u201d<\/p>\n\n\n\n<p>For a bank steeped in global tradition but firmly focused on future relevance, RBC\u2019s vision is clear: embrace the change, equip the people, and let technology serve, not replace, the relationship.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-getting-personal-with-kamran-azim\">Getting Personal with Kamran Azim<\/h3>\n\n\n\n<p>For Azim, the story begins in Karachi, Pakistan. Born there, he emigrated to Canada via the Middle East, settling with his family in Toronto, a city that would not only shape his identity but also become home to his alma mater and his enduring loyalty to its sports teams.<\/p>\n\n\n\n<p>\u201cI\u2019m a proud University of Toronto graduate,\u201d Azim shares. He studied economics and economic history, drawn to understanding how past systems and decisions shape modern financial and social structures. \u201cIt gave me a perspective on how the world got to where it is, and how we might use that understanding to shape the future.\u201d<\/p>\n\n\n\n<p>That long-view mindset is something he\u2019s brought into his career, which has spanned just two institutions. He began at Canadian Imperial Bank of Commerce (CIBC), first as a bank teller. \u201cI\u2019ve been at the coalface,\u201d he notes. \u201cI\u2019ve met clients across the counter and handled retail banking firsthand.\u201d<\/p>\n\n\n\n<p>After two years, he moved into market risk, before joining RBC, where he has now spent 18 years in roles across capital markets, corporate banking, and wealth management. He\u2019s worked in Toronto, London, and now Singapore, where he\u2019s in his second stint after an earlier posting from 2016 to 2019.<\/p>\n\n\n\n<p>He took over as Chief Operating Officer (COO) of the Singapore business in November 2022, and earlier this year transitioned into his current role as Head of Private Banking. \u201cI\u2019ll be passing on the COO baton this November,\u201d he says with a smile. \u201cIt\u2019ll be nice to focus on the one role again.\u201d<\/p>\n\n\n\n<p>Outside the boardroom, Azim is a family man, married with two young children. \u201cOur daughter is four, and our son just crossed the nine-month mark,\u201d he shares. \u201cIt\u2019s a very busy but rewarding chapter at home.\u201d<\/p>\n\n\n\n<p>Unsurprisingly, his personal interests still reflect his Canadian roots. He\u2019s a devoted fan of the Toronto Maple Leafs and the Toronto Raptors, though he readily admits the former haven\u2019t won anything since before he was born. \u201cThe Raptors at least gave me one championship,\u201d he jokes, recalling how he celebrated their 2019 win while living in London. \u201cIt was 4 a.m., and I was yelling and waking up the neighbours. I\u2019m sure they had no idea what I was so excited about.\u201d<\/p>\n\n\n\n<p>His football allegiance, however, lies further afield. \u201cI\u2019m a massive Arsenal fan,\u201d he confesses. \u201cSo yes, I am a glutton for punishment.\u201d<\/p>\n\n\n\n<p>To stay active, Azim recently took up padel, a racquet sport rising in popularity across Asia. \u201cI\u2019ve started playing on Sunday evenings. It\u2019s a good mix of exercise and fun, very different from the gym grind.\u201d<\/p>\n\n\n\n<p>These days, family travel has taken on a new flavour as well. \u201cBack in the day, my wife and I used to travel to find hidden food gems in Asia,\u201d he reflects. \u201cNow, we look for the best kids\u2019 clubs in hotels, because that\u2019s the priority.\u201d<\/p>\n\n\n\n<p>Azim also plays an active civic role. Earlier this year, he was appointed President of the Canadian Chamber of Commerce in Singapore. \u201cIt\u2019s about giving back,\u201d he says. \u201cHelping Canadian businesses enter the region, building \u2018Team Canada,\u2019 and sharing the best of our country with the world.\u201d<\/p>\n\n\n\n<p>And when asked what the best of Canada is? He doesn\u2019t hesitate. \u201cIt\u2019s the people. It always has been.<\/p>\n\n\n\n<p><em>This<\/em>\u00a0<em>article was previously published in\u00a0<\/em><a href=\"https:\/\/www.hubbis.com\/article\/rbc-wealth-management-scaling-global-trust-with-local-precision-in-asia\" target=\"_blank\" rel=\"noreferrer noopener\">hubbis <\/a><em>.<\/em><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kamran Azim outlines the bank\u2019s expanding presence across Asia, its differentiators in a crowded field, and why trust structures and cross-border continuity are central to client retention.<\/p>\n","protected":false},"author":15,"featured_media":0,"template":"","meta":{"_acf_changed":false,"editor_notices":[],"rbc_url_alias":"","footnotes":""},"rbcwm_solution":[],"rbcwm_newsroom_category":[],"class_list":["post-14799","rbcwm_newsroom","type-rbcwm_newsroom","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RBC Wealth Management: Scaling global trust with local precision in Asia (hubbis) - 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