ON THE MOVE-RBC lands Wells Fargo broker managing $116 mln in assets

Wed Nov 5, 2014 4:08pm EST
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NEW YORK Nov 5 (Reuters) - RBC Wealth Management, the U.S. brokerage arm of the Royal Bank of Canada, hired veteran broker Todd Watson away from Wells Fargo Advisors, where he managed $116 million in assets.

Watson, a fixed income expert with 27 years in the industry, joined RBC's office in Fort Lauderdale, Florida last month, said Kristin Turner, director of RBC's West Palm Beach region, by email on Tuesday.

So far this year, RBC has hired 83 financial advisers managing around $8 billion in assets and with more than $59 million in production, according to an RBC statement. It employs around 2,000 advisers managing more than $278 billion of assets firm-wide.

Royal Bank of Canada is the largest retail bank in Canada, and a key focus is its financial services division. (Reporting by Elizabeth Dilts; Editing by Steve Orlofsky)