Merrill nabs $300M RBC trio in New York

Bank of America Merrill Lynch has picked up a $300 million RBC Wealth Management U.S. team in New York as Merrill Lynch continues to build out its herd of around 14,100 brokers and advisers. The trio of former RBC advisers, who are led by Ronald Slevin, brought in around $2.5 million in annual revenue last year, according to Bank of America Merrill Lynch spokeswoman Ana Sollitto. Mr. Slevin is joined by advisers George Gladman and Jared Stone, as well as their client associate. They report to Merrill Lynch complex manager Jeffrey L. Tucker, who oversees the firm's Fifth Avenue center. Merrill Lynch has 734 advisers in 10 branches in New York, according to Ms. Sollitto. Mr. Slevin has been in the industry almost four decades. He began his career at J.B. Hanauer & Co. and had been with RBC since 2005, according to records with the Financial Industry Regulatory Authority Inc. The team did not have international clients, according to Ms. Sollitto, and the move was unrelated to other RBC departures in New York and Miami, where some internationally focused advisers have left as the parent company, Royal Bank of Canada, has shut down certain business units in Latin America and the Caribbean. A spokeswoman for RBC, Jonell Lundquist, did not immediately respond to an e-mail seeking comment.