RBC Wealth Management's international arm in London has announced the promotion of Matthew Yong and Frank Mu to president and chief executive officer, respectively, of its Asian operations.
The unit of Royal Bank of Canada also said Monday that it had unified its Asian operations under the RBC Wealth Management, Asia, umbrella.
Yong will run sales and distribution in Asia. Mu is to remain leader of the advisory team while also overseeing client solution support, including trust, discretionary investment management, investment advisory and credit and functional support activities such as operations, information technology, human resources, finance, risk and compliance.
Yong is based in Singapore and Mu in Hong Kong. RBC Wealth Management also has a representative office in Beijing and a branch in Brunei. Yong and Mu both report to Doug Gunton, the head of Asian and Canadian International Centers in the wealth management unit.
The international arm of RBC Wealth Management serves more than 35,000 high-net-worth individuals and institutions through 35 offices in the British Isles, continental Europe, Asia, the Middle East, the Caribbean, Latin America and North America.