UPDATE: RBC GAM plans six-strong Asia sales team
The Canadian fund house is to expand its business development resources in Asia with a view to boosting its regional client base, which only accounts for around 1% of its total AUM.
RBC Global Asset Management, the funds arm of Royal Bank of Canada, plans to build a six-strong Asia sales and marketing team following its hire of Sharon Yang last month to head Greater China coverage.
The aim is to boost the tiny amount of client assets it sources from Asia Pacific. As of June 30 last year, the region only accounted for 0.6% of its total AUM, as against 76% for North America and 23.4% for Europe (which includes UK-based BlueBay Asset Management). Its AUM stood a…
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