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Morgan Stanley branch manager jumps to RBC

RBC lured away a branch manager from Morgan Stanley on Monday, a spokeswoman confirmed.

Justin Ferdula, who oversaw the wirehouse's Rockefeller Center branch, is the second manager to leave the firm in New York. In November, Morgan Stanley complex manager Robert Peyreigne left to become the head of Jefferies' wealth management unit.

Ferdula's new role at RBC is yet to be determined, a spokeswoman said. He could not be reached for immediate comment. A spokeswoman for Morgan Stanley confirmed his departure, but declined to comment further.

Royal Bank of Canada (RBC) headquarters building in Toronto, Canada, on Thursday, April 6, 2017 Bloomberg News
Pedestrians are reflected next to signage displayed inside the Royal Bank of Canada (RBC) headquarters building during the company's annual general meeting in Toronto, Ontario, Canada, on Thursday, April 6, 2017. RBC Chief Executive Officer David urged lawmakers to coordinate interventions and act quickly to cool housing markets, particularly in Toronto and Vancouver. Photographer: Cole Burston/Bloomberg
Raymond James, RBC and Ameriprise were among the industry players to lure away talent from Merrill Lynch.
May 8

Ferdula had been at Morgan Stanley and its predecessor firms since joining the industry in 2002, according to FINRA BrokerCheck records.

He rose through the ranks from financial adviser to national training officer to branch manager, according to his profile on Morgan Stanley's website, which was still available late Monday afternoon.

"My time with National Training and National Business Development gives me and my branch management team connectivity across our firm. We help eliminate roadblocks for financial advisers and clients," his profile says.

In 2010, he was listed among On Wall Street's Top 100 branch managers.

RBC has approximately 1,800 advisers and $289 billion in total client assets.

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