RBC Wealth Management, the wealth management arm of Royal Bank of Canada (RBC), Canada’s largest bank has hired Philip Harris as Head of UK Wealth Management, focusing on the UK domestic market.
Harris joins RBC Wealth Management’s London office from UBS where he was head of UK high net worth client business. Harris’ mandate at RBC Wealth Management is to build and head up a new team of private bankers focused on onshore UK to complement RBC Wealth Management’s existing and long-established international business headed by Mark Evans. Harris will report to Paul Patterson, Head of RBC Wealth Management in the British Isles. Harris was a co-founder of the Scott Goodman Harris wealth management business which was bought by UBS five years ago.
“We are delighted to have been able to attract such an experienced and well respected figure as Philip to join our ever expanding team of private bankers,” says Paul Patterson, head of RBC wealth management in the British Isles. “Onshore is a new focus for RBC but one we see as having enormous opportunities going forwards. We are fully committed to building a high net worth onshore business in the UK and Philip’s experience and seniority in the market makes him the ideal person to lead and drive forward this initiative.
“This latest hire advances our long-term strategy to build further on our core business of providing integrated global wealth management services and solutions to high net worth and ultra high net worth individuals by hiring senior experienced professionals,” says Patterson. “We remain committed to developing our British Isles wealth management platform and are always looking for quality hires to add to the business.”
On 27 February 2009 RBC Wealth Management announced the completion of its acquisition of Mourant Private Wealth, adding a further 44 staff to the business. This deal has added more than 3.5 billion in assets under administration to RBC Wealth Management bringing the firm’s wealth management assets under administration in the British Isles to more than 66.5 billion and to more than 260 billion on a global basis.
D.C.