With Asia on the brink of one of the biggest-ever inter-generational wealth transfers, RBC Wealth Management finds itself in the right place at the right time.
RBC has been building its Asia business from the ground up since 1969 – a century after Royal Bank of Canada was incorporated – first in Hong Kong, then in Singapore six years later. During that time, RBC Wealth Management has offered banking, brokerage and advisory services around the region.
As the 2020s unfolded, however, it became clear in Asia’s private banking circles that demand for wealth transfer and succession expertise would explode. And as the industry booms, RBC WM, led by Asia head Terence Chow, seems ideally placed to pull in new clients.
The bank’s cross-border model is hard to beat. Its deep ties to Canada, the US and the UK are in demand, given the importance of these jurisdictions to many wealthy Asians. And it helps that RBC WM has expertise in advising on complex issues such as estate planning, wealth transfers, tax residency, real estate, education and business ownership across international time zones.
Chow