The wealth management arm of the Royal Bank of Canada (RBC) has made two senior appointments in Hong Kong, while hiring three new private bankers to support its growing client base and ambitions in the region.
RBC Wealth Management has named Ignatius (Iggy) K.K. Chong, previously head of private banking, Greater China, to the newly created role of head of enterprise private clients, Asia, according to a statement on Tuesday.
Chong joined RBC in 2014, after spending 20 years at wealth manager Coutts. His first stint at RBC lasted over 11 years, starting in 1982 in Canada. In his new role, he is responsible for coverage of ultra-high-net-worth (UHNW) clients' financial needs across regional geographies and products.
North Asia Boost
The firm also appointed Nick Chan as head of private banking, North Asia, to lead its business and strategy in the region.
Chan (pictured above) brings over two decades of wealth management experience across Asia and was most recently deputy CEO and head of family office Asia Pacific at StormHarbour Securities. He also spent 14 years at Morgan Stanley Private Wealth Management (PWM) in Hong Kong and Singapore, and was a senior producer for the UHNW segment at Goldman Sachs in Asia.
Chan and Chong report to Terence Chow, with roles effective from 1 December.
More Private Bankers
The bank also noted the hire of Franky Lee, Elroy Wong and Ellen Choi to its wealth management division in Hong Kong in recent weeks. Lee previously worked with Bank of Singapore, while Wong joins from LGT (HK) and Choi from EFG Bank.
The new private banker appointments mean that 11 new relationship managers have joined the firm in Hong Kong over the past year.
