UBS Lures “Top” Woman Advisor from RBC’s Hometown Office
UBS Financial Services on Tuesday recruited a four-person team in Minneapolis from RBC Wealth Management, which is headquartered in the city.
Led by Deborah R. Johnston, the group scored a place on Forbes’ 2017 list of . Johnston has spent her entire 16-year career as a registered representative with RBC Capital Markets, the U.S. broker-dealer unit of Royal Bank of Canada, according to her BrokerCheck history.
Joining her at UBS are fellow advisor Erica Frantz and client associates Beth Peterson and Hannah Mason, said a person answering their phone at the new office. They had been managing $223 million in client assets at RBC, according to Forbes.
An RBC spokeswoman confirmed that the team has left. Earlier on Tuesday RBC said it had lured a veteran Morgan Stanley manager in New York City to run its Houston branch complex.
Earlier this summer, UBS hired a $3 million team in New Jersey from Merrill Lynch as well as teams in Michigan and Ohio.
A spokeswoman at UBS, which has been hiring selectively since announcing a 40% recruiting budget cut in 2016, said she could not immediately comment on the Johnston team.
Frantz began her brokerage career at Wells Fargo Advisors in Washington D.C. in 2008, moved to Merrill Lynch in 2011 and moved to RBC in 2013, according to her BrokerCheck history.