Additional appointments underscore firm's strategic focus on Asia
HONG KONG AND TORONTO, June 7, 2011 /PRNewswire/ - RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RY on TSX and NYSE) (TSX: RY) and (NYSE: RY), today announced key management appointments for its operations in Asia.
Doug Moore has been appointed to the newly created position of head of RBC Capital Markets, Asia. Moore's appointment illustrates RBC's continued growth in the region, and follows RBC Capital Markets' announcement in November 2010 of a new trading floor in Hong Kong, doubling its capacity.
Moore is based in Hong Kong and reports to Mark Standish and Doug McGregor, RBC Capital Markets' co-CEOs. He will be responsible for leading the firm's business in the region as it advances its growth strategy in conjunction with other global and regional RBC business leaders. Moore brings to RBC over 23 years of business and financial experience in Asia on both the buy and sell sides, including strong investment management expertise on the private client side, and in building a financial services business for Credit Suisse in Hong Kong.
"Doug is a highly successful and experienced individual who brings a unique perspective to our business," said Standish. "We are focused on further expansion of our platform in Asia; the creation of this position signifies the importance of the region for RBC Capital Markets, as well as the opportunity we see for distributing our global products. Doug's role in establishing an integrated strategy for RBC in Asia will greatly benefit our clients in the region, as it will help us deliver a more comprehensive suite of products and solutions."
Andrew Turczyniak, CEO of RBC Capital Markets' operations in Hong Kong, will assume the role of Head of Strategic Relationships and will be responsible for further strengthening the collaborative efforts between RBC Capital Markets and RBC Wealth Management in Asia.
In line with the firm's increasing emphasis on the combined region, Alan Downie, COO of Australia, has been appointed COO Asia-Pacific for RBC Capital Markets. Downie will relocate from Sydney to Hong Kong.
"Andrew's expanded role is testament to his success in leading our growth and development in Hong Kong, which is complemented by his extensive knowledge of the market. Alan's broadened scope is a result of the strengths and expertise he has exhibited throughout his time with RBC in Sydney," said McGregor. "These structural changes, coupled with the hiring of Doug Moore, will position RBC Capital Markets very well for growth in a market that we consider to be of key importance to the development of our franchise."
"RBC Capital Markets in Asia presents an exciting opportunity for me to be part of a strong growth story at one of the largest and most stable banks in the world," said Moore. "RBC's momentum and its differentiated position among global banks make it a compelling time to join as the firm builds a scale business in Asia."
RBC Capital Markets has over 360 employees in Asia-Pacific, and has operations in Hong Kong, Beijing, Tokyo, Singapore and Sydney.
About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking arm of RBC and is consistently ranked among the top investment banks globally. With over 6,300 employees, RBC Capital Markets is active globally in fixed income, foreign exchange, infrastructure finance, ECM, metals, mining and energy. Working with clients through operations in Asia and Australasia, the UK and Europe and in every major North American city, RBC Capital Markets provides products and services from 75 offices in 15 countries. For more information, please visit www.rbccm.com.