The services offered by the intermediary wealth solutions team are to include discretionary investment management, tax consultancy, cash management, treasury services, credit and financing, global custody, and banking.
RBC’s head of global trust Stuart Rutledge said that the initiative is a direct response to the increasing demand from local businesses who are seeking stable institutions to collaborate with.
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Rutledge said he is hopeful that the wealth managers’ "unique value proposition" will allow them to become a leading provider of wealth services to the intermediary market in Jersey and Guernsey.
Senior appointment
Following the launch, Adam Norris has been appointed senior manager, intermediary business development. The newly-created role will see him lead its business development.
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By GlobalDataBased in Jersey, Norris will be responsible for developing institutional client relationships in the Channel Islands, including with offshore trust companies, offshore fund and investment managers, family offices, insurance companies and captives.
Norris brings with him managerial experience from HSBC Private Bank where he headed a team focused on Channel Islands-based private clients and intermediaries. He has also worked for Deutsche Bank in Jersey looking after a portfolio of high net worth and ultra high net worth private clients.
Source: Private Banker International
