RBC Wealth Management bolsters its Asia strategy with a senior hire.

RBC Wealth Management, the wealth arm of Toronto-listed Royal Bank of Canada, has strengthened its Singapore office with a senior appointment, this publication has learned.

Effective March 2014, Stefan Meuller joins the Asia team as managing director, head of investments and products. Meuller brings 16 years of experience in the region providing research, product and advisory for high net worth and ultra-high net worth individuals.

He previously served as managing director, head of product management, Asia-Pacific at Credit Suisse in Singapore and has worked in various capacities at UBS Wealth Management also in Singapore. 

In his new role, he reports to Maarten Jansen, the head of investments and products for RBC Wealth Management, emerging markets, and Andrew Turczyniak, managing director of RBC WM, emerging markets in Asia. 

According to the 2013 World Wealth Report by Capgemini and RBC Wealth Management, the number of HNW individuals in the city-state rose by 11.5 per cent in the year compared to 2012, creating new opportunities for the financial planning industry. While North America leads as the largest wealth market by HNWI population, the report says that Asia-Pacific will likely reclaim the top spot in the future with a 9.8 per cent annual projected HNWI wealth growth to reach an anticipated $15.9 trillion by the year 2015. 

Besides Singapore, the company's Asia network operates through offices in Brunei, China and Hong Kong.