ON THE MOVE-Morgan Stanley broker moves to RBC Wealth in D.C.

Wed Nov 14, 2012 5:16pm EST

Nov 14 (Reuters) - A veteran broker from Morgan Stanley Wealth Management who was discharged from the firm in October has moved to RBC Wealth Management in Washington, D.C.

Adviser Ayesha Yasin, who managed $116 million in client assets and had an annual production of $972,000, joined the Royal Bank of Canada's U.S. wealth management division last week, the company said on Wednesday.

Yasin was let go from Morgan Stanley in October for "internal allegations relating to personal account trading and inappropriate mismarking of transactions as unsolicited," according to regulatory filings.

RBC did not immediately comment on the discharge, and Morgan Stanley declined to comment on the departure.

Yasin had been a senior vice president at Morgan Stanley Wealth Management, the brokerage majority-owned by Morgan Stanley and partially owned by Citigroup. She moved last Thursday after more than three years at Morgan Stanley.

Toronto-based RBC, Canada's largest retail bank and the one most focused on wealth management, has about 2,000 advisers managing more than $227 billion in client assets in its U.S. wealth management division.

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