RBC’s Hong Kong expansion signals bank’s growth plan

ROYAL Bank of Canada’s aggressive expansion plans have taken another leap forward with the launch of a new trading floor in Hong Kong.

RBC Capital Markets will double the size of its previous operations in the region, where it now employs 100 people.

In Asia-Pacific it employs more than 330 people, with offices in Singapore, Tokyo, Beijing and Sydney, growing staff headcount by 26 per cent since January 2010.

Mark Standish, co-chief executive and president of RBC Capital Markets, has outlined the investment banks’ plans for growth in the region. He said: “As we head into 2011, our strategy will remain the same. We will listen to our clients and build a scale business around their needs. This systematic, disciplined and measured expansion isn’t a new approach for us.

“This is something we have been focused on as we have been expanding our business globally for almost a decade now. ”

Andrew Turczyniak, chief executive of RBC Capital Markets Asia, added: “What we have built here is a reflection of RBC’s extensive global capabilities. We believe that a combination of our existing business momentum and expertise, the continued rise of Asia, together with our differentiated position amongst global banks will allow us to build a significant presence in the region.

“The launch of the new trading floor in Hong Kong is an important step in this direction.”