A former branch manager with UBS, Mark Rabbe will now be branch director of RBC's Burlington, Mass., offices.
He is replacing Jim Nolan who retired in February of this year after serving as the branch director for 30 years.
"We're excited," Paul J. Leyden, the Boston complex director for UBS, said. "Mark will be the second manager in 30 years, and I think that's a neat distinction. He's got a great business that he's coming into, and now it's a new era."
In his new role, Rabbe will not only be responsible for overseeing the office and recruiting new advisors, but also he will continue to manage client assets. He was responsible for $85 million in client assets at UBS and is in the process of bringing those over, Leyden said.
Rabbe has 27 years of experience in the financial services industry having started at PaineWebber in 1984 according to regulatory filings with the Financial Industry Regulatory Authority. It was his level of experience and connections in the community that had initially caught Leyden's eye.
"I've known of him personally since his early days in New Hampshire," Leyden said. "The fact that he has over 10 years of experience managing an office was really attractive to us."
The attraction for Rabbe, according to Leyden, was the 2,000-plus broker size of RBC.
RBC also recently hired a team of three advisors to its Denver, Colo., office.