RBC Wealth Management Recruits $1.7 Billion Team from UBS

RBC Wealth Management recruited a $1.7 billion team to join its Westchester, N.Y. branch. Hudson River Wealth Management will be joining the firm from UBS.

The eight-member team includes managing directors and financial advisors Steven Solomon and Lauren Konstantin (who also acts as portfolio manager), senior vice presidents Kevin Bertoncin and Roger Matles, Senior Financial Associate Leonard Solomon, and Senior Business Associate Izabella Wszolek. Peggy Athanasatos and Elena Tashlitsky round out the team as senior registered client associate and registered client associate, respectively.

According to RBC New York Metro Complex Director John Moran, the group “is an elite team of advisors,” saying that those joining RBC appreciate the firm’s culture, management structure and “direct access that they have to senior leaders.”

“RBC Wealth Management is actively attracting teams who serve the ultra-high-net worth marketplace, and we are excited about the continued growth in the region,” he said (RBC opened its Westchester branch in late June).

According to SEC records, Solomon first registered in 1992, with stints at Citigroup and Morgan Stanley before joining UBS in 2010. According to the SEC, Lauren Konstantin registered with Deutsche Bank in 2010 and stayed for five years before joining UBS in 2015.

Related:Morgan Stanley Is Seeking to Capture More Private-Market Wealth

The Hudson River team is the latest of several moves from UBS to RBC this year.

In June, a $1.1 billion team joined RBC from UBS. The nine-person Centennial Wealth Management Group is based in Purchase, N.Y. and was led by advisors and managing directors Glenn Bianco and Michael Daly. The team works with HNW individuals, including athletes, medical professionals, entrepreneurs and business executives.

That same month, RBC attracted three UBS advisors collectively managing about $1.1 billion in client assets. According to RBC, the three advisors joined RBC complexes in St. Paul, Min., Boise, Idaho, and Beverly Hills, Calif.

In April, RBC recruited a New York-based team managing over $5 billion from JPMorgan. The Degenaars Babb Group originally joined JPMorgan after First Republic’s collapse in 2023. It marked one of the largest teams RBC has ever recruited.