A team of some of the most seasoned investment advisors of the international private banking office of Royal Bank of Canada in Miami has joined Morgan Stanley. Robert Alegria, Richard Earle and Javier Valle began working at Morgan Stanley Wealth Management last January.
According to information confirmed to Funds Society by sources close to the company, this group of advisors hired by Morgan Stanley, could be increased in the weeks before the imminent closure of RBC Wealth Management’s international private banking services in Miami, which is scheduled for late February.
Richard Earle and Javier Valle had worked for over 10 years as investment advisors at RBC WM, since 2002. Robert Alegria, CFA, had been working at the Canadian firm since 2001, first as a portfolio manager, and later also as an investment advisor.
RBC Wealth Management has decided to end its international private banking business in the US, confirming the closure of its offices in Miami, Houston, Toronto, and the Caribbean, as well as its international brokerage service known by the company as its International Advisory Group. The US broker dealer business continues to function throughout the country. The closure, which was released exclusively by Funds Society last September, has been carried out gradually in stages, culminating at the end of this month.
Quite a number of investment advisors from RBC’s Wealth Management office in Miami have joined other private banking projects within the market.