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Retirement Planning > Retirement Investing

RBC Taps BlackRock Exec to Lead Retirement, Fund Business

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RBC Wealth Management said Monday it has hired an executive from BlackRock to serve as its head of retirement and fund solutions in the U.S.

At BlackRock, Kim Mickelson served as a director in the U.S. Wealth Advisory Group for the past two years. Prior to that post, she worked at Ameriprise Financial as vice president of financial planning (2006-2010) and annuity marketing (1998-2006), according to her LinkedIn profile.

The news comes about six weeks after RBC Wealth tapped Michael Armstrong as CEO, following the retirement of John Taft on May 31.

“Kim comes to RBC Wealth Management with deep and broad knowledge in product management, retirement planning and extensive work supporting financial advisors with practice management issues,” said Mary Sumners, managing director and head of product management and strategic initiatives at RBC Wealth Management-U.S, in a statement. “I am confident she will be a key leader in the growth of our product platform.”

Michelson started her career in the business as a financial advisor with Primevest in 1991, according to FINRA BrokerCheck, and moved to US Bancorp two years later.

RBC has some 1,900 advisors in the U.S. They work in about 200 locations and have some $271 billion in client assets.

The group also employees about 4,700 individuals at its base in Minneapolis.

Also recently, RBC tapped Tom Sagissor as president; he is a 22-year industry veteran and is expected to join RBC this summer from Jefferies & Co.

RBC has been busy lately when it comes to recruiting.

On Friday, it announced that a team from Morgan Stanley had joined it in Pueblo, Colorado: The Gryphon Group is comprised of advisors Jim K. Murray and Ryan Griego, who have managed about $238 million in assets and had some $1.3 million in year production.


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