RBC Wealth Management, part of Royal Bank of Canada, has opened a new trust office in Singapore headed up by Hilary May, managing director.
The new office will provide trust, estate planning, and fiduciary services. Barend Janssens, Singapore-based head of Emerging Markets, RBC Wealth Management, commented: “RBC Wealth Management’s world-class expertise in trust services is a real draw for many of our Asian clients. We anticipate interest from many of our clients and prospects, particularly from the large number of Asian families who choose to immigrate into or back from Canada and the US. The Singapore trust offering is another important step in the building of our Asian business, enabling us to offer an enhanced suite of wealth management services to clients in the region.”
Paul Patterson, global head of Trust, RBC Wealth Management, said the move adds to RBC Wealth Management's global trust offering, giving it a presence in most of the world's major jurisdictions. "We can offer clients more choice as to where their trust is established and administered and undertake planning across multiple locations,” said Patterson.
RBC Wealth Management serves high net worth and ultra high net worth clients in Asia from its offices in Hong Kong, Singapore, Brunei and Beijing. RBC Wealth Management provide trust services globally, with nearly 600 core trust staff serving more than 5,000 clients in 10 trust jurisdictions, including Hong Kong and now Singapore.
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