Newly aggressive U.S. brokerage unit of Canadian bank hires another big team from a wirehouse.
A wirehouse team in Florida joins the U.S. wealth unit of a Canadian bank while Sunshine State powerhouse Raymond James loses broker to a new Miami office of Pennsylvania regional Janney Montgomery Scott.
RBC and Baird score advisors from Merrill and Morgan Stanley, while RayJay signs up a $1.4-million producer from a bank-owned broker in New Orleans.
RBC adds $1.4-million team from Janney in Pittsburgh while RayJay recruits JPMorgan broker in Chicago.
Boston brokers Paul Roche and Christopher Bayles, with two associates, resigned from the wirehouse on Tuesday to join the expanding U.S. brokerage franchise of Royal Bank of Canada.
Despite its recruiting retrenchment, UBS continues hiring selectively.
Indianapolis-based broker in branch that also housed Tom Buck allegedly churned closed-end funds for six years.
Justin Ferdula, who had been in charge of Morgan Stanley’s Rockefeller Center branch, will now oversee six RBC wealth branches in Chicago.