RBC Wealth Management, the wealth management arm of Royal Bank of Canada, has hired a former Citibank International team to cover its non-resident Indian clients as the firm moves to increase its coverage of the NRI market in Europe and Asia.

Leading the London-based team is Sumit Sibal, who is joined by Amit Kachawaha, Amit Kotha and Vikram Anand.  Together, their mandate includes delivering investment advisory, discretionary, credit, trust, tax and banking services to non-resident Indian clients.

Mark Evans, head of private banking, British Isles, at RBC Wealth Management said: “The team comes with strong credentials and an extensive book of clients. The appointment of the non-resident Indian team demonstrates our commitment to building out our wealth management platform by continuing to hire talented individuals.”

Meanwhile, early this year RBC is expected to close the acquisition of Mourant Private Wealth, the Jersey-based private client trust business of the Mourant financial services group.  The acquisition of Mourant Private Wealth is expected to add more than £3.5 billion ($5.1 billion) to RBC Wealth Management’s existing $91.7 billion in assets under administration in the UK and Ireland.

RBC Wealth Management has approximately $180.8 billion in global assets under management and $410.9 billion in global assets under administration.  Internationally, RBC Wealth Management services over 35,000 high net worth individuals and institutions through 35 offices in the UK and Ireland, Europe, Asia, the Middle East, the Caribbean, Latin America and North America.