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RBC recruits $136M Morgan Stanley adviser

An adviser who managed $136 million left Morgan Stanley to join RBC, a spokeswoman confirmed.

John Spies joined the regional firm in Dakota Dunes, South Dakota, where he reports to branch manager Jason Kleis, On Wall Street has learned.

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The Royal Bank of Canada headquarters in Toronto, Ontario, Canada are seen on June 11, 2003. Photographer: Norm Betts/Bloomberg News.

Spies generated approximately $926,000 while at Morgan, according to RBC.

He started his advisory career at Merrill Lynch in 2000, according to FINRA BrokerCheck. He moved to the Warner Group in 2001, and later transitioned to Morgan Stanley in 2008.

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A spokeswoman for Morgan Stanley confirmed Spies' departure, but declined to comment further.

Earlier this month RBC said it lured away a team managing $145 million in client assets from Merrill Lynch. Steven Culbert and Mark Smith joined RBC's Minneapolis office where they report to Tom Schulenberg, the director of the Minneapolis complex.

In total, the firm has more than 1,800 advisers operating in 40 states and $279 billion in total client assets.

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