The firm, a subsidiary of Royal Bank of Canada, announced two appointments to its private banking teams in Hong Kong and Singapore.
Andrew Cheng has been hired as executive director of private banking in Hong Kong, according to a statement from the firm. He will report to Vicky Lin, deputy head of private banking for Greater China.
Cheng joins from Indosuez in Hong Kong where he was managing director. Prior to that, he worked in ANZ Bank in Hong Kong as market head for China private banks.
Prior to that, he held roles in Hong Kong and China at Standard Chartered, UBS, HSBC and Julius Baer. He has primarily focused on serving high net worth (HNW) private banking clients, according to the statement.
In Singapore, Andrew White was hired as director of private banking. He reports to Dom Lane, executive director and team head of private banking.
Previously, White was with Sandaire, an international multi-family office, where he was the Singapore-based chief investment officer for Asia, according to the statement.
Lane said in the statement that White’s “experience working with multi-generational international families will help RBC Wealth Management anticipate and meet the financial planning needs of global families across the region”.
The two roles are newly-created and both Cheng and White joined the firm in July 2019, according to a spokeswoman from the firm.
“The roles were created to serve the needs of our existing clients and to help grow our target client segment, Asia’s global families. Prior to that, these responsibilities were held within the Southeast Asia and North Asia private banking teams,” she added.
The two hires come as global market uncertainty is leading many investors to seek advice on how to best position themselves to generate returns while also insulating themselves from volatility, the statement noted.
