RBC hired away an executive from Ameriprise to be the firm's managing director for its Boston complex.
Brian Katz, who joined RBC from Ameriprise Financial, will oversee seven branches and more than 50 advisers in his new role as complex director, according to a spokeswoman. He reports to Pat Vaughan, director of RBC’s East division.
Paul Leyden, the previous Boston complex director, is transitioning back into production as an adviser with RBC, a spokeswoman said.
Katz was formerly a divisional vice president of branch development at Ameriprise, where he was responsible for all adviser recruiting activities in the Northeast and Mid-Atlantic regions, RBC said. He worked there for three years.
Commenting on his appointment, Vaughan said Katz has developed strong relationships throughout the industry, and is known for attracting talent. He will help the firm expand in the Boston area, which Vaughan identified as an important market for the Minneapolis-based RBC.
Katz is an industry veteran with 31 years of experience, FINRA BrokerCheck records show, most of which he spent in various senior leadership roles, according to RBC.
Plus, Wells Fargo hires a $700M team from J.P. Morgan Private Bank and helps a $587M Morgan Stanley team go independent.
Prior to Ameriprise, Katz worked for 12 years as a managing director and regional director at Morgan Stanley as well as its predecessor firm Smith Barney, also in the Boston area. He started his career at E. F. Hutton in 1985, and transitioned to its subsequent successor firms Lehman Brothers, Citigroup (which owned Smith Barney) and ultimately Morgan Stanley, according to BrokerCheck.
RBC has $284 billion in client assets in the U.S., and about 1,800 advisers working in 200 locations across 40 states, according to the company.
A spokeswoman for Ameriprise could not immediately be reached for comment.
