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RBC Wealth Management hires Philip Harris from UBS

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RBC Wealth Management, the wealth management arm of Royal Bank of Canada, has hired Philip Harris as head of UK wealth management, focusing on the UK domestic market.

RBC Wealth Management, the wealth management arm of Royal Bank of Canada, 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.

His 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 international business headed by Mark Evans.

Harris will report to Paul Patterson, head of RBC wealth management in the British Isles.

Patterson says: ‘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. 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. 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. The deal has added more than GBP3.5bn in assets under administration to RBC Wealth Management, bringing the firm’s wealth management assets under administration in the British Isles to more than GBP66.5bn and to more than GBP260bn on a global basis.

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