LONDON and HONG KONG /PRNewswire/ -- RBC Global Asset Management (RBC GAM), the asset management division of Royal Bank of Canada (RBC), today announced the appointment of Ken Tam as managing director and head of Asia for RBC Investment Management (Asia) Limited.
Based at RBC GAM's office in Hong Kong, Mr. Tam will oversee RBC GAM's business in the Asia-Pacific region, excluding BlueBay Asset Management, and will report to Clive Brown, CEO and managing director, RBC GAM International.
Speaking about Mr. Tam's appointment, Mr. Brown said, "The Asia- Pacific region is an important component of RBC Global Asset Management's international growth plans. Mr. Tam's extensive experience in the Asian asset management industry will help RBC GAM continue to grow and enhance our service to clients in the region. I look forward to working with Ken, and am pleased that RBC GAM's investment strength and collaborative, client-focused culture enables us to attract top industry talent."
Today's announcement reflects a continuation of RBC GAM's international growth trajectory. RBC has made a series of successful acquisitions in building its asset management arm: Voyageur Asset Management (U.S., 2001); Phillips, Hager & North Investment Management (Canada, 2008); and BlueBay Asset Management (UK, 2010). Globally, RBC GAM (which includes the aforementioned firms) manages over US$300 billion and has more than 1,300 employees.
"This is an exciting time for RBC GAM, our clients and our employees as we draw on the expertise and client-focused service we are known for in North America and expand those capabilities globally," said Mr. Brown. "I am confident that under Ken's leadership, RBC GAM's business in the Asia-Pacific region will continue to grow and to attract clients that recognize the value of our approach."
Mr. Tam joins RBC GAM with over 25 years' experience in the financial services industry. Most recently, he was managing director and head of Global Client Group, Asia Pacific ex-Japan at Deutsche Asset & Wealth Management, having previously spent 19 years at JP Morgan Asset Management, where he held a number of senior roles, including managing director, head of North Asia. He began his career in 1988 at Price Waterhouse and is a member of the Hong Kong Institute of Certified Public Accountants.
About RBC Global Asset Management and RBC Wealth Management
RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC), and includes institutional money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to individual, high-net-worth and institutional investors through mutual funds, exchange-traded funds, hedge funds, pooled funds, separate accounts and specialty investment strategies. RBC GAM group of companies manage more than US$300 billion and have approximately 1,300 employees located across Canada, the United States, Europe and Asia.
RBC GAM is part of RBC Wealth Management, which is one of the world's top five largest wealth managers*. RBC Wealth Management directly serves affluent, high-net-worth and ultra-high net worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from our key operational hubs in Canada, the United States, the British Isles, and Asia. The business also provides asset management products and services directly and through RBC and third party distributors to institutional and individual clients, through its RBC GAM business. RBC Wealth Management has more than C$747 billion of assets under administration, more than C$481 billion of assets under management and approximately 4,100 financial consultants, advisors, private bankers, and trust officers. For more information, please visit www.rbcwealthmanagement.com.
*Scorpio Partnership Global Private Banking KPI Benchmark 2014. In the United States, securities are offered through RBC Wealth Management, a division of RBC Capital Markets, LLC, a wholly owned subsidiary of Royal Bank of Canada. Member NYSE/FINRA/SIPC.
For more information, please contact:
RBC Global Asset Management, Toronto:
Connie Soave, +1 (0) 416 955-0577, [email protected]
Dafina Grapci-Penney, +44 (0)20 7324 5484, [email protected]