Ex-RBC broker alleged she was treated like a client associate and fired for reporting another advisor’s conduct, but arbitrators said they couldn’t consider her claims.
The bank’s capital-markets division had its worst quarter in two years for profit and revenue, with lower investment-banking fees and higher provisions for soured corporate loans causing a 12% drop in earnings for the business.
Brokers say order-entry system was down until mid-afternoon, requiring calls to firm trading desk and paper-ticketing.
Kristen Kimmell, who had been chief of staff to Wealth CEO Michael Armstrong, will lead advisor recruiting.
Twenty-nine year Merrill veteran in Scranton moved family team producing $4.2 million to Wells, and eight-person team overseeing $540 million in Minocqua, Wis. joined RBC (which also hired two Merrill teams in northern California).