Royal Bank of Canada’s (RBC) wealth management unit RBC Wealth Management has appointed Kamran Azim as the new head of private banking in Singapore.
This move is part of the firm’s commitment to expanding its operations and enhancing client relations in Southeast Asia.
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Azim, who will also retain his role as regional chief operating officer (COO), brings experience from within RBC, having joined the company in 2008.
Azim’s leadership is expected to drive the growth of RBC’s private banking business in the region.
His previous roles within the company include head of credit for RBC Wealth Management Asia and Wealth Management International, as well as vice president, head of global credit and cash management.
In addition to Azim’s appointment, RBC Wealth Management has strengthened its Singapore team with several key hires.
Jessie Heng has joined as managing director and team head, bringing over two decades of experience from financial institutions such as Julius Baer, DBS, Credit Suisse, and Citi.
Moses Seow, the newly appointed as executive director, has held roles at Lombard Odier and DBS. Seow’s expertise spans various sectors, including retail banking and private banking.
Derrick Yong and Eng Huat Thio have been named as directors, with each having over two decades of experience in wealth management.
Yong’s background includes positions at VP Bank, Standard Chartered, and EFG, while Thio worked at Standard Chartered, BNP Paribas Wealth Management, and Julius Baer.
In December 2024, RBC reported a net income of C$16.2bn ($11.2bn) for the year ending 31 October 2024, an 11% increase from the previous year. Its adjusted net income rose 10% year-on-year.
