RBC Wealth Management, part of Royal Bank of Canada, has appointed David Foster and Mike Adams as co-heads of the Caribbean business, based in Cayman and Barbados respectively, according to The Tribune.
Adams has assumed regional leadership of the teams based in Barbados, with accountability for the corporate and institutional business and providing directional support to the Caribbean-based operations, technology and functional teams.
Foster has assumed responsibility for the operation and supervision of the Investments, trust and private client teams, including fiduciary, banking and relationship management solutions delivered through offices in Cayman, Barbados and the Bahamas.
Both Adams and Foster will report to Stuart Rutledge, head, RBC Wealth Management – British Isles and Caribbean.
Adams has joined RBC via the acquisition of Barclays’ US private banking operations in 2002, and has, since then, held a series of senior compliance and risk management positions within RBC’s Wealth management operations worldwide.
Foster has joined RBC Wealth Management in 2012 from Coutts, where he was managing director of their Cayman business. He has over 20 years of experience in leading teams that advice international high net worth and ultra high net worth individuals and their families.
RBC Wealth Management provides a comprehensive set of offshore banking and wealth management services to resident and international clients in the Caribbean.
Rutledge said: "These appointments were made to ensure we are in the best position to serve our clients, provide opportunities for our employees, and grow our business in the Caribbean."