Monday, 23rd November 2009

 
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23 July 2009 - Tara Loader Wilkinson

RBC strengthens link between wealth and investment bank with new hire

Royal Bank of Canada Wealth Management has appointed a new manager of structured products, as the bank seeks to grow its offering of structured notes to its high net worth and ultra high net worth clients.

Wasim Afzal starts as manager in structured notes and fixed income. The position is a new one. He previously worked at RBC Capital Markets, the corporate and investment banking arm of RBC.

He reports to Phil Cutts, head of advisory at RBC Wealth Management and head of the joint venture between RBC Capital Markets and RBC Wealth Management.

Cutts said: “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."

Tags: RBC Capital Markets , RBC Wealth Management

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