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RBC Wealth Management hires three private bankers

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The international division of RBC Wealth Management, part of Royal Bank of Canada, has appointed three wealth managers to its London-based UK onshore business.

This follows the news in March this year that Philip Harris (pictured) has been hired to spearhead RBC Wealth Management’s push into the UK domestic market.
 
The new recruits include Shervin Mellegard, who joins RBC Wealth Management as a managing director in the UK domestic team. Mellegard has over 20 years’ experience in the financial services industry, spanning a broad skill set from commodities futures and securities trading at Merrill Lynch in the US, to private banking and relationship management at Barclays Wealth in London.

He is joined by Samuel Palmer, director, and Neil Jeffries, wealth manager. Palmer, previously at UBS, will build out RBC’s value proposition for UK based family offices, whilst Jeffries, previously at UBS and Morgan Stanley, will ensure the delivery of RBC’s integrated capabilities to the bank’s new HNWI domestic onshore client base.
 
Harris says: “RBC Wealth Management’s domestic offering centres on three key features: a high touch, personal service; the strength and security of a top 15 global bank with a high quality balance sheet; and an open architecture approach, focused on integrated, client-centric solutions rather than product pushing. These new hires create a solid foundation for delivering our clients with this unique value proposition. We plan to continue expanding the team with further hires in the coming months, and are finding that applicants are drawn to us by the fact that we operate as a boutique – but with the balance sheet and capabilities of a major bank.”
 
RBC Wealth Management has also been hiring proactively in other parts of its UK operation, to support the growth of the UK domestic wealth management business. Over the last three months, RBC Wealth Management has hired three people to its tax team in Cheltenham, focusing on onshore tax services, and a life and pensions specialist to its advisory team in London.
 

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