ON THE MOVE-RBC Wealth hires branch manager from Morgan Stanley

April 30 Tue Apr 30, 2013 1:55pm EDT

April 30 (Reuters) - RBC Wealth Management, a division of the Royal Bank of Canada , has hired a veteran branch manager from Morgan Stanley Wealth Management in Texas as the firm looks to expand in the region.

Glen Hatch joined RBC's Austin office as a branch director from Morgan Stanley Wealth Management, where he had been for more than a decade, first with Citigroup's Smith Barney.

Morgan Stanley Wealth Management, the largest U.S. brokerage, was formed out of the merger of Morgan Stanley's wealth unit and Citi's Smith Barney in 2009.

Hatch spent eight years as a branch manager in Austin and previously had been based in Chicago. Prior to joining the financial services industry in 1998, he spent more than two decades in the United States Navy. Hatch joined RBC on April 22 and reports to Dallas complex director Andy Teller.

Morgan Stanley confirmed the departure, but declined to comment further.

Toronto-based RBC has 12 offices in Texas, including its Austin branch. It is Canada's largest retail bank and the one most focused on wealth management. RBC, which has set its sights on global wealth management as a key driver of growth, has about 2,000 advisers managing more than $235 billion in client assets in the United States.

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