ON THE MOVE-RBC Wealth Management hires former Merrill director

Tue Nov 6, 2012 4:53pm EST

Nov 6 (Reuters) - RBC Wealth Management, a division of the Royal Bank of Canada , said on Tuesday it hired a veteran director for its international group from Bank of America's Merrill Lynch.

Nicolas Seigal, who had been at Merrill since 2004, moved to RBC in late October. He joined RBC's International Advisory Group as a branch director in Miami, where he works with the company's international wealth management group.

Seigal, who has worked in the international financial services industry for roughly two decades, was most recently based out of Merrill's Miami complex, where he worked with high-net-worth clients in Latin America. Before that, he worked in Uruguay with Merrill and BankBoston.

In his new role, Seigal will be responsible for overseeing RBC's Miami branch, including driving revenue growth and recruiting financial advisers.

He reports to Ricardo Morean, director of international advisory at RBC.

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. The bank also said on Tuesday it hired two senior financial advisers in October to join its Miami office.

RBC Wealth's global head, George Lewis, told Reuters in a March interview that the firm plans to hire aggressively to expand its business in Asia and Latin America, as well as in more established markets such as the United States and Britain.

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