Royal Bank of Canada continues to expand its wealth management arm, adding Vineet Arora to its Dubai office. Mr Arora takes up the position of senior banker after over a decade in the industry. He joins from Singaporean investment firm IIFL Private Wealth Management, where he was head of Middle East & Africa.

Prior to that position, he held wealth management positions at Clariden Leu and ICICI. He is the seventh high profile hire for the unit’s Middle East operation in less than 12 months. HSBC, Citibank and UBS have also lost top staff to the Canadian bank.

RBC Wealth Management has held firm to expansion plans throughout the market turbulence, adding to staff at its offices in Canada, the Americas, Europe and Asia.

The bank said in a statement that it is committed to further expansion in the region.