RBC Wealth Management has named former
ABN AMRO banker Barend Janssens as head of its emerging markets
division, part of wider strategic changes to the
bank’s organisational structure started in September last
year.

The emerging markets unit will focus on new
high net worth clients in Asia, EMEA and Latin America.

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Singapore-based, Janssens, who formerly ran
the Asian region for ABN AMRO and subsequently Fortis, the RBC
wealth management subsidiary, will drive this emerging markets
push.

Janssens will be responsible for all of RBC’s
wealth management businesses in Asia, Continental Europe and Middle
East as well as South America.

 

Canada, UK and US
units also branch off

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In September 2010, RBC Wealth Management split
out its international wealth and asset management business into two
distinct units – UK and emerging markets.

These two new divisions joined Canada and
the United States as the bank’s four principal markets.

The three market heads for the other regions
include:

  • Canada: David Agnew now heads the
    Toronto, Montreal and Vancouver offices.  
  • US: John Taft now manages the New York,
    Miami, Houston, San Francisco, Delaware and Seattle offices.
  • UK and the Caribbean: Paul Patterson now
    heads the five UK offices and the three in the Caribbean.

 

RBC enriches global reach through
Fortis buy-out

In November 2010, RBC Wealth Management
announced its acquisition of Fortis’s wealth management business in
Hong Kong, consisting of about 16 client facing professionals and
30 support staff.

Lagopoulos noted ‘significant opportunities to
capitalise on the increasing flow of trade and immigration between
[Asia and Canada]’ through the Fortis buy-out.

The deputy chairman also hinted at the
prospects of an acquisition in Latin America in an interview with
PBI in July.

RBC wealth management has about 4,500
financial consultants, advisers, private bankers and trust officers
globally.