RBC Wealth Management, part of Royal Bank of Canada, has named a bank veteran as its new head of wealth management for Southeast Asia.
Toronto-based RBC wealth management (RBC) promoted Michael Reed as head of wealth management, Southeast Asia and chief executive, RBC Singapore branch. In the new role Reed also heads RBC wealth management Asia’s client and business development, and the Hong Kong trust company. A spokeswoman for the bank confirmed the move to finews.asia.
In his 18-year tenure with RBC Reed held leadership roles in Canada, the U.S. and the U.K. Prior to moving to Asia in 2017, he was head of multi-family offices, wealth management international in London, responsible for Family Offices and ultra-high-net-worth clients globally. Reed reports to Peter Corry, head of RBC wealth management Asia.
Seeking a New Role
Reed replaces Tho Gea Hong who the bank said left to pursue external opportunities. Prior to taking up the role of head of wealth management, Southeast Asia at RBC, Gea Hong was head of private banking and deputy CEO for Southeast Asia at Swiss bank EFG Bank in Singapore.
EFG's head in Singapore for the last seven years, Kong Eng Huat will retire at year-end. EFG is scheduled to name a new head for its Singapore business as early as next week.
