RBC Wealth Management has recruited a $7.5 billion team from UBS and is opening its first office in downtown Los Angeles.
Roger Stephens, who has 28 years of industry experience, and Daniel Rothenberg, with 13 years as an advisor are set to join RBC, along with four other team members. Both have also worked for several years at Morgan Stanley and have spent the past nine at UBS.
“We are excited to come to a firm that has a smaller, more focused group of people where we feel we can really make a difference,” according to Rothenberg. “RBC has a boutique feel across the board, which gives us the flexibility to run our business the way we want.”
RBC says its new branch in Los Angeles is in the City National Plaza building. City National was bought by RBC three years ago 2016.