Southeast Asia head of wealth management Michael Reed is retiring from RBC Wealth Management, according to a statement, after 22 years with the Canadian lender across various roles in the U.S., U.K., Hong Kong and Singapore.

Reed will be succeeded by North Asia head of private banking Nick Chan who will take on a broader remit to lead RBC Wealth Management's sales and relationship teams across Hong Kong and Singapore.

«[Reed] has been a core member of the wealth management leadership team in Asia and has helped to shape and grow our business in the region, with a constant focus on delivering an exceptional client experience,» said RBC Wealth Management head of Asia Terence Chow. «He has also played a key role in the wider community as a staunch supporter of RBC’s charity initiatives and with the Canadian Chamber of Commerce in Singapore.»

Singapore Expansion

In addition, the Toronto-headquartered private bank also unveiled new hires as part of its ongoing growth plans in the region.

Johann Peck and Audwin Tay join as Singapore-based directors and relationship managers reporting to executive director Lim Yew Geok. Peck previously held senior roles at HSBC Private Bank and Morgan Stanley. Tay joins from DBS Private Bank where he spent 11 years in senior investment and credit roles after working for the likes of California-based Silicon Valley Bank, the former OCBC Private Bank and AIG Private Bank.

In Hong Kong, the bank hired Betty Wong as a director and private banker reporting to executive director Anita Wong. Wong was previously a director of client advisory at Bank J. Safra Sarasin after working for RBS Coutts Bank for a decade originating and developing client relationships.

Newly Created Role

Also joining the Singapore office is Jessica Hung who has been named to the newly created role of director, head of sales management office, Asia, reporting to Chan. Hung joins from Morgan Stanley where she spent 11 years in private wealth sales, marketing and management positions.

«Attracting such talent is a key focus as we grow the business and offer a differentiated service to support the complex needs and goals of Asia’s global families – here and around the world,» Chow added.