Private Banks

RBC has maintained a presence in Hong Kong since 1969 and Singapore since 1975.

The hires underscore J.P. Morgan’s continued push to strengthen its private banking presence in Greater China.

Abouzahr has held several leadership positions across the bank’s operations in Hong Kong, mainland China and the UK.

Ling is currently a team head of Wealth Planning for Hong Kong, Philippines and international market at the bank.

The transaction is expected to be wrapped up during the first half of 2026.

The new head brings 20 years of product experience from investments and sales roles across various leading global financial institutions.

Last November, it also announced its plans to establish a new private bank booking centre in Singapore.

The private bank reported CHF 224.2 billion in global AUM at end-2024, up from CHF 204.2 billion a year earlier.

2024 was a watershed year for BEA Private Banking, with fee income surging by over 30% and operating income posting double-digit growth.

In 2024, the US bank delivered impressive results, with the firm's asset & wealth Management division achieving strong performance.

The move follows RBC’s Singapore expansion in March, where Kamran Azim took on dual roles as head of private banking and regional COO.

With non-resident Indian (NRI) clients increasingly seeking cross-border investment solutions, Singapore’s booking center has become indispensable.