Nov 14 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.