June 12, 2014 / 9:24 PM / 4 years ago

ON THE MOVE-RBC draws new Atlanta complex head from Morgan Stanley

NEW YORK, June 12 (Reuters) - RBC Wealth Management, a division of the Royal Bank of Canada , said on Thursday it hired a Morgan Stanley executive director to lead its new southern region complex in Atlanta.

Christopher Anderson joined RBC as complex director for the southern region on Monday after 20 years at Morgan Stanley, where he was executive director and regional business development manager for the southern region.

Anderson, an Atlanta native, will lead the complex from there, managing seven offices with 45 financial advisers. The region’s complex was previously based in Richmond, Virginia, and led by Kevin Williams. Williams will stay on as branch manager there.

Anderson said the complex moved to Atlanta because the brokerage is hoping to tap into “the money center in the southeast.”

“Our market share in the southeast is low relative to other territories,” Anderson said.

Moving the complex to Atlanta brings RBC’s regional complex closer to recruiting and business resources, Anderson said, like the city’s respected colleges and the headquarters for several international businesses.

Atlanta is headquarters for several Fortune 500 companies such as The Coca-Cola Company, Home Depot Inc. and Delta Air Lines Inc..

Toronto-based RBC, Canada’s largest retail bank and the one most focused on wealth management, has set its sights on global wealth management as a key driver for growth. RBC Wealth Management has about 2,000 advisers managing more than $235 billion in client assets. (Editing by James Dalgleish)

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