RBC Wealth Management has made executive level changes for the company and its independent business channels, RBC Correspondent and Advisor Services.
RBC Correspondent Services provides clearing, custody and execution services for independent broker dealers. RBC Advisor Services offers custodian, brokerage and wealth management solutions for RIAs serving high net worth clients.
Mike Kavanagh is retiring as chief administrative officer and head of RBC Correspondent and Advisor Services. He will remain with RBC through the end of the year to assist in the transition.
Catie Tobin, currently head of business development for RBC Wealth Management, has been named head of RBC Correspondent and Advisor Services, responsible for continuing the strong growth of these independent business channels. Tobin will report directly to John Taft, chief executive of RBC Wealth Management – US.
"Mike has been a tremendous leader throughout his 25 years with RBC. He has contributed in numerous ways to the growth and evolution of our U.S. wealth management business, including driving RBC Correspondent and Advisor Services into strong and profitable independent business channels," says Taft. "Mike and Catie will work closely together with our executive team to ensure a seamless transition. Having been with RBC for nearly 20 years, Catie has a solid understanding of the vast resources of RBC and will be instrumental in leveraging them for RBC Correspondent and Advisor Services."
"RBC has been supporting advice-giving investment professionals for more than a century," adds Tobin. We are an elite wealth management firm and remain focused on deepening our relationships with correspondent and adviser firms by providing personalised service and sophisticated solutions that will drive business growth. I am very excited to lead RBC Correspondent and Advisor Services, which clearly represents two of our most promising expansion opportunities."