RBC Wealth Management’s International Wealth Management division, which focuses on high net worth clients in Latin America, the Caribbean and the U.S., has added Nicolas Seigal as branch director in Miami.
Seigal, who has 18 years of experience, was formerly a associate director of the Merrill Lynch’s Miami complex and has also worked in Uruguay with Merrill Lynch and BankBoston.
At his new post, he will oversee 13 advisors in RBC’s Miami office and eight more in New York until they can find a branch manager for the New York international office. He will report to Ricardo Morean, director of international advisory, and Seigal said that they are looking to double their advisor count at those two offices in two to three years.
“[At RBC] I have a much bigger role in recruiting and growing the business,” Seigal said in a phone call with On Wall Street. “At Merrill it was more of maintaining a business and focusing on existing financial advisors. The role at RBC is much more focused on growing the business growing the platform and expanding it internationally.”
The firm has announced it is focusing on its international high net worth clients as part of group head George Lewis’ plan to expand the bank’s wealth unit. And in addition to Seigal, RBC has brought on two senior financial advisors in October, both of which have more than 20 years of experience.
“RBC’s commitment is to grow and expand internationally where many firms are getting out of the business or are limiting it,” Seigal said. “So there are opportunities to grow internationally.” ###