RBC Dexia Investor Services has named Brent Reuter as its new head of sales and distribution for Asia as it seeks to deepen its penetration of institutional clients in the region.

Reuter has been promoted to managing director in Hong Kong, having been director of sales based in Canada. He is replacing Scott McLaren who is set to leave the firm at the end of this month.

Reuter confirms that RBC Dexia has ambitious growth plans for Asia and says announcements can be expected soon regarding product expansion, while the company is also looking at options for geographic expansion.

Leading a regional team of about 20, Reuter lists his priorities as growing the firm’s Asia client base and leveraging existing relationships at institutions in Europe and North America to assist with their regional expansion plans. Above all, he is targeting global, strategic asset management organisations.

“We see asset managers looking to expand their product suite to more complex products, which requires back-office providers with the capability to support complex fund structures,” he says. “We are well positioned from a technology and capability perspective to take advantage of this growth.”

Reuter notes that asset managers are also eyeing geographic opportunities, not only in Asia but also in Luxembourg and Dublin from a Ucits perspective.

“We are looking to support that from a distribution perspective, and our transfer agency capabilities are recognised as world class to help [clients] grow their business in the region,” he says.

“What I bring to the role is a strong pedigree from relationships I have developed in Europe and America, and these organisations have global footprints.

“I think we recognise Asia’s potential, and we have built our operations to take advantage of those opportunities. My experience and DNA around client penetration and ability to capture opportunities and strategic relationships is going to be important.”

RBC Dexia Investor Services is a 50:50 joint-venture between RBC Bank and Dexia Bank and has been operating since January 2006. It covers 15 countries, with strong bases in Canada and continental Europe, and has $2.4 trillion in client assets under administration.

It has more than 600 staff in Asia with operations in Singapore, Hong Kong and Kuala Lumpur. It focuses on back-office asset administration, providing custody, transfer agency and fund administration.