Royal Bank of Canada targets Asian wealth

RBC Wealth Management, the world's sixth largest wealth manager by assets under management, is seeking small to medium-sized asset managers in Asia, and plans to more than double client manager numbers by 2015.

It is part of a global strategy launched in 2010 to make the wealth-management business a larger profit generator for the parent, Royal Bank of Canada. The Canadian lender hopes that profit from its wealth-management business will reach US$2 billion by 2015 from US$800 million in 2010, when it first drafted its strategy.

via Business feed http://www.scmp.com/business/banking-finance/article/1061122/royal-bank-canada-targets-asian-wealth