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RBC hires Wells Fargo manager to further expansion efforts

A Wells Fargo regional brokerage manager left the firm to join RBC Wealth Management, marking the regional firm's latest wirehouse hire.

Charles Carson now serves as director of RBC's Houston complex, which is comprised of 43 advisers working in four branch offices, a spokeswoman said. The firm tapped him to oversee operations there because of his success in recruiting adviser talent and growing revenue, Darryl Traweek, director of RBC Wealth Management’s west division, said.

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

"His industry knowledge, leadership skills and experience make him a great fit to grow and lead our Houston-area offices," Traweek said in a statement.

Carson started his financial services career at American Express Financial Advisors in 1986, according to FINRA BrokerCheck records. He became an adviser himself in 1991, later moving into management, RBC said.

He moved from Merrill Lynch to Wells Fargo in 2012.

Despite hiring pullbacks at the larger firms, there's been no shortage of multibillion dollar moves.
July 17

A spokeswoman for Wells Fargo was not available for immediate comment.

RBC has been pushing to add more advisers. At the same time, all the wirehouses except Wells Fargo have announced recruiting cutbacks.

Among RBC's most recent hires was a Morgan Stanley team that generated $2 million in annual revenue, according to regional firm. In June, RBC tapped a wirehouse branch manager to lead its Chicago office.

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