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RBC recruits $750M advisor in latest grab

Bay Street As Canada Stocks Retreat As Investors Eschew Pot, Shopify Tumbles
People enter and exit from the Royal Bank of Canada (RBC) headquarters in the financial district of Toronto, Ontario, Canada, on Thursday, July 25, 2019. Canadian stocks fell as tech heavyweight Shopify Inc. weighed on the benchmark and investors continued to flee pot companies. Photographer: Brent Lewin/Bloomberg
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RBC snagged a top advisor to wealthy clients from AllianceBernstein where he oversaw $750 million in assets. It’s the latest in a flurry of recent RBC hirings in the Bay Area.

William Grayson joined RBC in San Francisco. At AllianceBernstein, he had served for a decade as national director of family offices for the company’s private wealth management unit.

Grayson is one of three dozen hires that RBC has picked up in the Bay Area within the past three years, according to the firm.

“Bill is very well connected in the San Francisco community, and known in the area both for his wealth management practice and his commitment to giving back to the community – which makes him a perfect fit for RBC,” Michael Schipper, director of the firm’s Northern California Complex, said in a statement.

Schipper joined RBC from Raymond James in 2015.

Earlier this month, RBC said it had hired two advisors from Wells Fargo and Merrill Lynch, where they managed a combined $550 million in client assets.

RBC Wealth Management has $379 billion in total client assets with more than 2,000 financial advisors, according to the company.

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