RBC Wealth Management has added to its relationship management team in Asia with the hire of Jason Tong as an executive director, according to a statement from the firm.
Tong, who is based in Singapore, will report to Michael Reed, head of RBC Wealth Management for Southeast Asia.
Tong is expected to provide advice and wealth management solutions to Singaporean and Chinese clients and families that have ties globally, especially to Canada, the US and the UK – a segment that RBC Wealth refers to as Asia’s global families.
Before RBC Wealth, Tong was at Bank Pictet & Cie, where he was a senior banker overseeing client relationships focused around China markets. Prior to that, he spent 12 years with Bank of Singapore, where he was responsible for a team of 10 relationship managers, according to the statement.
Besides Tong, the firm has also appointed Daphne Chandra as a Singapore-based associate director and relationship manager, the firm said. Previously, she was at citizenship and residency planning firm Henley & Partners, where she was country head of Indonesia responsible for a portfolio of UHNW clients.
In addition, Lloyd Cook has been transferred from the bank’s Vancouver business to Singapore, where he is now a director and relationship manager.
The firm has made several other hires this year. They include Ada Chan from UBS and Cheryl Ong from CA Indosuez, both joining RBC Wealth as relationship managers in Singapore. In addition, the firm also hired two senior wealth planning executives, including Alvin Chiam in Singapore and Belle Hu in Beijing.
So far this year, eight new advisors have joined RBC Wealth’s Asia business, according to the firm. Globally, RBC Wealth Management has an AUM of around C$782bn ($591bn) and administers C$1.05trn in assets.