The Royal Bank of Scotland (RBS) in Hong Kong has poached a structured products team from Schroders Investment Management. Stanley Ng joins as managing director, head of structured investor product development and marketing. Also joining RBS are Ng’s Schroders colleagues, Paul Chan, as senior director, and Sharon Tan, as an associate. Ng was previously Schroders’ head of structured investments, Asia Pacific. He now reports to RBS’s Water Cheung, head of treasury and emerging markets for Asia Pacific, and to Robert Begbie, global head of structured investor products in London. Cheung recently joined RBS from Development Bank of Singapore (see Squawkbox, July 17). The new RBS team will work closely with both the debt markets and treasury investor product groups to develop and market structured products for distribution in the region.