RBS Coutts, the private banking division of RBS, has relocated its co-chief investment officer Nick Cringle to Hong Kong from London, continuing a trend of banks shifting top executives to Asia, such as HSBC, according to Reuters.

"Nick's relocation reflects the importance of Asia as one of the world's fastest growing high net worth markets," said Nick Pollard, chief executive for RBS Coutts Asia, the news service reported.

As reported by WealthBriefing last August, Nick Pollard has been made head of the Asian private banking division of RBS Coutts. Mr Pollard is based in Asia and reports to Gerhard Mueller, the new international head.

Other banks have been tilting their management focus to Asia to capture rapid growth in the region's wealth management market. Last year, HSBC said that its group chief executive, Michael Geoghegan, would be headquartered in Hong Kong, to reflect the bank’s increasing focus on Asia as a source for future growth.