NEW YORK, June 13 RBC Wealth Management, a division of the Royal Bank of Canada , announced Friday it landed a 23-year veteran financial adviser from UBS to join its office in Norwell, Massachusetts, just outside of Boston.
Peter Cleary joined RBC on June 2 from UBS Financial Service's Boston office, where he produced annual revenue of $1.2 million and managed $130 million in client assets.
"His 23 years experience tells us that he has great client relationship skills," Paul J. Leyden, director of the Boston complex, said. "We're excited for him to bring his high net worth clients and his deep client base."
Cleary will work out of the Norwell office, 25 miles southeast of Boston, because it is closer to his South Shore home, Leyden said, calling it a "quality of life" move.
Cleary brought with him Mariana Ali, a registered client associate.
Toronto-based RBC, Canada's largest retail bank, has steadily expanded its U.S. wealth management division over the last several years.
So far this year, RBC Wealth Management has hired eight new financial advisers who collectively managed at least $880 million in client assets, an RBC spokeswoman confirmed. On Thursday, RBC announced it hired a Morgan Stanley executive director to lead its new southern region complex in Atlanta.
Nationwide, RBC Wealth Management has about 2,000 advisers managing more than $235 billion in client assets. (Reporting by Elizabeth Dilts; editing by Andrew Hay)