Top RBC exec exits

Jan 9, 2014 @ 3:47 pm

By Trevor Hunnicutt

Craig Gordon, the No. 2 executive at RBC Correspondent Services since 2008, has left the clearing firm, according to RBC spokeswoman Jonell Lundquist.

Mr. Gordon, who also was a senior executive at RBC Advisor Services, the custodian for independent advisory firms, had been at RBC since 2000, according to his LinkedIn profile. He led many of the firm's sales efforts and worked to elevate the profile of the Royal Bank of Canada subsidiaries.

With 180 broker-dealer clients, RBC's clearing business is the fifth largest, according to data collected by InvestmentNews.

RBC's custody business tends to focus on larger advisory firms and compete with the heavy hitters, such as Schwab Advisor Services, TD Ameritrade Institutional and Fidelity Institutional Wealth Services. It has $11.6 billion in assets under custody for 99 advisory firms, and increased its assets 11.7% from 2012 to 2013, according toInvestmentNews data.

In a statement, Ms. Lundquis described Mr. Gordon as “a valuable asset to the firm over the years” and said the firm is actively recruiting his replacement. He could not be reached for comment.

The story was first reported by RIABiz.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

Cybersecurity: Fears and opportunities for every adviser

Phishing schemes and financial hoaxes put advisers and their clients in the line of fire everyday. Joel Bruckenstein, the godfather of FinTech, offers some solutions for every firm.

Latest news & opinion

Broker protocol for recruiting a boon for clients

New research finds advisers whose firms have joined the agreement take better care of customers.

Meet our 2017 Women to Watch

Introducing 20 female financial advisers and industry executives who are distinguished leaders, advancing the business of providing advice through their creativity and hard work.

Raymond James executives call on industry to keep broker protocol

Also ask firms to pay for the administration of the protocol to 'ensure its longevity and relevance.'

Senate committee approves tax plan but full passage not assured

Several Republican senators expressed reservations about the bill, and the GOP cannot afford too many defections.

House passes tax bill, focus turns to Senate

Tax reform legislation expected to have more of a challenge in upper chamber.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print