In Dual Deals, RBC Recruits UBS, JPMorgan Alums Managing $2B

Group 1 - A $1.1 billion team from Michigan, known as BLS Financial Group, is joining RBC Wealth Management from UBS, following a recent move of a J.P. Morgan advisor managing nearly $1 billion to RBC [1][4] - The BLS Financial Group consists of six members, including managing directors and investment associates, and aims to enhance RBC's services for high-net-worth clients and expand its presence in the Detroit market [2][3] - The team members have extensive experience in the financial industry, with some having been with UBS for many years, indicating a strong background in wealth management [3] Group 2 - Kevin Carey, a New York City-based advisor with nearly $1 billion in client assets, recently transitioned to RBC from J.P. Morgan, citing RBC's unique culture and resources as key factors for his move [4] - The collapse of First Republic Bank in early 2023 led to a significant recruitment opportunity for RBC, as many advisors from First Republic sought new positions, benefiting RBC with teams managing billions in assets [5][6] - RBC has been actively recruiting, including a notable $1.7 billion team from UBS in July and a $5 billion firm earlier in April, showcasing its aggressive growth strategy in the wealth management sector [7]