RBC Wealth Management has appointed one of its senior managers, Michael Kay, to the newly-created position of head, international ultra high net worth credit solutions.

Kay will originate and structure tailored credit solutions for RBC Wealth Management’s international UHNW client base. He will report to Michael Lagopoulos, deputy chairman, RBC Wealth Management, who leads the coordination and servicing of leading UHNW families and institutional clients.

Formerly head of credit products for RBC Wealth Management’s global trust and UK businesses, Kay will relocate to Toronto and begins his new role in August.

“This new leadership role recognizes the importance of UHNW clients to RBC Wealth Management…and the value that credit solutions have to both our international client base and to the profitability of our business,” Lagopoulos said. 

RBC Wealth Management has around C$534 billion (around $533 billion) of assets under administration and more than C$313 billion of assets under management.