The wealth management arm of the Royal Bank of Canada has appointed a senior banker to serve the financial and wealth planning needs of its HNW and UHNW clients.

RBC Wealth Management is growing its Singapore team of private bankers with the appointment of executive director Jason Tong, who will report to Michael Reed, head of RBC Wealth Management Southeast Asia, the firm announced on Wednesday.

Tong joins from Bank Pictet & Cie (Asia), where he was a senior banker overseeing client relationships focused on China. He previously spent 12 years at OCBC Private Bank/Bank of Singapore, where he was responsible for a team of 10 relationship managers, and earlier worked with Citibank and Prudential Assurance.

In his new role, Tong will advise Singaporean and Chinese clients and families that have ties globally, especially to Canada, the U.S. and the U.K. – a segment that RBC refers to as Asia’s global families.

New Relationship Manager

Following the eight new advisors who have joined the firm's wealth business in Asia this year, Daphne Chandra has joined in Singapore as associate director, relationship manager. She was most recently country head of Indonesia at citizenship and residency planning firm Henley & Partners, where she was responsible for a portfolio of UHNW clients.

Chandra reports to Dominic Lane, executive director and team head, Asia’s Global Families, along with Lloyd Cook, who has transferred from the bank’s Vancouver business to the position of Director, Relationship Manager, also in Singapore.

Asia Growth

RBC has about 2,000 employees in Asia working across wealth management, global asset management, capital markets and investor and treasury services. The bank has recently added a number of private bankers to its relationship management teams in Asia.

In May, RBC announced two senior wealth planning hires to cover the region: wealth planner Alvin Chiam, as part of its Singapore team, and associate director, business development Belle (Jing) Hu, based in Beijing. In July, the firm announced that Ada Chan, senior director, and Cheryl Ong, director, joined RBC Wealth Management's team in Singapore.

The firm currently has C$1.05 trillion ($800 billion) of assets under administration, and almost C$782 billion of assets under management.