RBC promotes advisor to branch manager
RBC tapped one of its own to lead a branch in Manhattan Beach, California, underlining a corporate commitment to increase the number of women in management positions.
Reva Shakkottai, an advisor with RBC for a decade and the firm’s newest branch manager, will oversee nine employees including four advisors, the company said.
RBC’s wealth management unit has more than 1,800 advisors in the U.S., operating from 175 branches in 42 states. The company does not track how many of its branch managers are women, a spokeswoman says, but RBC is striving to improve women’s representation in the ranks of its management.
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Industrywide, women continue to be underrepresented: Less than one-third of financial advisors are women, according to data from the Bureau of Labor Statistics. Some firms and industry organizations — such as the CFP Board — have stepped up efforts to attract more women to the profession.
“Increasing the number of women in leadership positions is a continued focus for our firm,” Kristen Kimmell, chief of staff at RBC Wealth Management, said in a statement. “Reva is extremely motivated and has continuously demonstrated the leadership skills needed to succeed, and we are thrilled she will now be leading the Manhattan Beach office.”
Shakkottai has 20 years of experience in finance and joined RBC from Neuberger Berman in 2009, according to FINRA BrokerCheck. In addition to her branch management duties, she’ll continue working as an advisor and portfolio strategist for her team, which is based in RBC’s nearby Century City office, the company says.