RBC Hires $375 Million All-Female Adviser Team -- Street Moves
26 April 2017 - 2:26AM
Dow Jones News
By Michael Wursthorn
Royal Bank of Canada's U.S. wealth-management arm said it
recruited an all-female team of financial advisers who managed $375
million as brokerages put more emphasis on expanding their ranks of
women.
Advisers Tracey Schusterman and Rosa Mazzone, along with two
other associates, joined RBC Wealth Management's New York branch
from UBS Group AG, where they generated $2.7 million in fees and
commissions annually.
Based in Minneapolis, RBC Wealth Management has about 1,800
brokers who oversee $289 billion in assets. RBC said it is focused
on bringing more women to the firm.
Ms. Schusterman and Ms. Mazzone had worked at the Swiss bank's
U.S. brokerage arm since 2009. Before that, they worked at Smith
Barney.
A UBS spokesman didn't immediately respond to a message seeking
comment.
Female brokers are scarce in the industry. Of about 310,500
brokers in the U.S., just 15.7%, or 48,631, are women, according to
research firm Cerulli Associates.
Other brokerages, including Morgan Stanley and Raymond James
Financial Inc., have also publicly said they are actively trying to
attract more women to their ranks.
Write to Michael Wursthorn at Michael.Wursthorn@wsj.com
(END) Dow Jones Newswires
April 25, 2017 12:11 ET (16:11 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Royal Bank of Canada (TSX:RY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Royal Bank of Canada (TSX:RY)
Historical Stock Chart
From Apr 2023 to Apr 2024