$312M UBS adviser joins RBC

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RBC Wealth Management hired a UBS adviser who once oversaw $312 million in client assets, a spokeswoman says.

David DePaul joined RBC in Florham Park, New Jersey, where he reports to Steve Ornstein, complex director. He previously generated $1 million in annual revenue, according to RBC.

DePaul has more than two decades of industry experience, according to FINRA BrokerCheck records. He had been with UBS since 2008. Previously, he worked at Morgan Stanley and its predecessor firm, Smith Barney.

A UBS spokesperson declined to comment on the departure.

RBC currently has about 1,800 advisers operating in 40 states. The firm has $279 billion in client assets, according to RBC.

It last announced new hires in November, when it said it picked up a Morgan Stanley team that managed approximately $500 million in client assets. The Frankel Patt Group joined RBC in Beverly Hills, California.

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