RBC named a veteran executive as president, a newly created position for the firm.
Tom Sagissor will oversee the firm's private client group, which has about 1,900 U.S.-based advisors overseeing approximately $264 billion in client assets. He reports to John Taft, CEO of RBC Wealth Management-U.S., who is set to retire later this year.
Sagissor, 48, has been overseeing RBC's north central region, which has about 500 advisors.
After having played hockey for the Montreal Canadiens' farm team, Sagissor started his financial services career with Dain Bosworth in 1993, according to a spokeswoman. That firm was later acquired by RBC.
Sagissor, who is a graduate of the University of Wisconsin, Madison, recruited more than 100 financial advisors during his time as a divisional president, according to RBC.
Meanwhile, the hunt for a replacement for Taft continues, the firm said. His eventual successor will report to Russell Goldsmith, CEO of City National Bank, which RBC acquired last year in a bid to build out its private banking offerings to ultrawealthy clients.
Goldsmith highlighted Sagissor's long tenure with RBC as an advantage for the firm, saying that "he will play a critical leadership role in preserving the firm’s strong culture and accelerating its growth."
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