Andrew Gordon joins RBC Investor Services | Moves

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Amid high cost pressure on fund service providers in Asia, former BNY Mellon veteran Andrew Gordon will join rival RBC Investor Services (RBCIS) today, according to sources.

He would have replaced Hong Kong sales manager Brent Reuter, but with an expanded mandate for North Asia and other markets. It is understood that Gordon will have the mandate to hire more staff.

He reports to David Travers, Asia Pacific Manager at RBCIS, which manages $ 2.9 trillion in assets.

RBCIS was not available to comment on the nomination at press time.

Gordon’s most recent role at BNY Mellon was as Head of Alternative Services and Brokerage for Asia-Pacific, a position he held in January 2008 and left at the end of the year. last, as first reported by AsianInvestor. He worked for the firm since 1985 and has been established in Asia since 1994.

Reuter remains with RBC but moves to a new role in the United States. He joined what was then RBC Dexia Investor Services in Hong Kong in October 2010 with the mission of deepening the penetration of institutional clients in the region.

He had been Sales Director in Canada and replaced Scott McLaren, who now works for custody firm Brown Brothers Harriman as Sales and Relationship Management Manager for Investor Services Asia.

Upon his arrival, Reuter had indicated that his priorities were to develop the firm’s Asian clientele and to help institutions in Europe and North America with their regional expansion plans.

Shortly before Gordon’s departure from BNY Mellon, Stewart Bent had left Credit Suisse’s premier fund services business unit in the region. The functions of the latter are supposed to have been carried out by the members of the team in place.

Fund administration is generally a low-margin industry and even the largest players are not immune to a trend towards cost cutting and consolidation. In July, State Street agreed to acquire Goldman Sachs Administration Services, creating one of the largest hedge fund administrators in the world.


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