RBC continues to sharpen its focus on its global wealth management division with the promotion of Steve Sokic to head of the ultra-high net worth, trust, fiduciary and tax businesses.
In his new role, Sokic will help expand its investment services and trust and fiduciary capabilities as the Canadian firm seeks to build up its product offerings, particularly among its wealthiest client base.
"We also look at the number of products and solutions we have per client as a way of insuring that we are expanding our single-product relations," George Lewis, group head of RBC Wealth Management, said in a phone interview earlier this month. "Where a client might just use us for trust services or might just use us for investments, we make sure we are offering banking and credit and insurance solutions to that high net worth or ultra-high net worth client base, which is our focus."
"The ultra high net worth market remains a primary focus for us, allowing us to demonstrate the full scope of our integrated wealth proposition. Having worked with Steve for many years I know him to be an outstanding planner with excellent client handling skills and a deep knowledge of our Global Trust business," Patterson said.
A long-time industry veteran, Sokic began his career at Deloitte in Canada before moving to RBC's trust division in the Bahamas in 2002.