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RBC Hires Nallamala to Oversee Asia Equities in Hong Kong

Aug. 21 (Bloomberg) -- Royal Bank of Canada, the country’s largest lender, named Mayur Nallamala head of Asian equities for its asset-management unit.

Nallamala, who previously worked for JPMorgan Chase & Co., will oversee $1.5 billion of stocks and lead a team of Hong-Kong-based portfolio managers and analysts, RBC said today in an e-mailed statement. He will work with Adam Matthews, a former JPMorgan colleague who runs business and development for the unit in the Asia-Pacific region, according to the statement.

“Mayur brings a rigorous investment philosophy that is consistent with our own approach, a solid track record in the region and a strong background in serving clients,” Dan Chornous, chief investment officer of Toronto-based RBC Global Asset Management, said in the statement.

Nallamala, a graduate of the London School of Economics, spent eight years at JPMorgan Asset Management in Hong Kong, where he managed $4 billion for Asian sovereign-wealth, institutional and retail customers, according to the statement. He’s succeeding Yoji Takeda, who plans to retire in coming months, said Matthew Gierasimczuk, an RBC spokesman.

To contact the reporters on this story: Steven Crabill in New York at scrabill@bloomberg.net; Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; Christine Harper at charper@bloomberg.net

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