People Moves
RBC Wealth Management Appoints Manager, Hiring Spree Continues
RBC Wealth Management, part of Royal Bank of Canada, has appointed Wasim Afzal manager in structured notes and fixed income, advisory.
Mr Afzal will be based in London and will be responsible for developing the international arm of RBC Wealth Management’s structured notes offering for its high and ultra high net worth clients, the firm said in a statement yesterday.
Mr Afzal was previously with RBC Capital Markets, the corporate and investment banking arm of RBC, and has also worked at Lehman Brothers and Deutsche Bank. He specialises in structured credit products, structured rates and fund derivatives, RBC Wealth Management said in a statement.
“In this low interest rate environment, we are finding that one of the main preoccupations of HNW clients is how to generate yield, and we are talking to our clients about investing in structured products to realise this goal. Wasim’s role is to find our clients the best structures, solutions and pricing from a wide range of providers,” said Phil Cutts, head of advisory at RBC Wealth Management, British Isles, and head of the joint venture between RBC Capital Markets and RBC Wealth Management.
Earlier this week, RBC Wealth Management announced the appointment of Roberta Ruddy to its senior managers international solutions team; additionally, at the beginning of this month the bank appointed Keith Pearse as head of human resources for its international arm.
Ms Ruddy joined RBC Wealth Management from Citi Private Bank, where she was a global wealth structuring consultant in the bank’s international private banking division. Mr Pearse was previously head of human resources for RBC Wealth Management in the British Isles.
The international arm of RBC Wealth Management serves over 35,000 high net worth individuals and institutions through 35 offices in the British Isles, Continental Europe, Asia, the Middle East, the Caribbean, Latin America and North America.
RBC Wealth Management has more than C$480 billion ($437 billion) of assets under administration and more than C$230 billion of assets under management.
