RBC Wealth Management, part of Royal Bank of Canada, has hired the Galli investment team – which has more than $3 billion in assets under management – for its San Francisco office.

The Galli team, which joins from Credit Suisse, is comprised of Marina Galli, senior vice president – financial consultant; Jennifer Seidler, senior financial associate; Jennifer Cai, senior registered client associate, and Bonafe De Mayo, registered client associate. The team manages taxable and tax-exempt short-term bond portfolios and now reports to Chuck Evans, San Francisco complex director.

RBC Wealth Management has also recently recruited UBS veteran Mark Dewane as a financial consultant for its Phoenix, Arizona office.

Mr Dewane, who had been with UBS for 24 years, has approximately $160 million in client assets under management and $1 million in production. Joining Mr Dewane at RBC’s Phoenix office is senior client associate Cheryl Woodring. They now report to Tim Rannow, complex director.

Since the start of its current fiscal year, which commenced 1 November 2008, RBC Wealth Management has recruited more than 600 people globally, with a significant proportion of these hires occurring in the US.

This US hiring spree has seen the firm recruit 199 advisors since November, while 157 advisors were hired for the whole of the previous year. A number of firms – including UBS, Credit Suisse, Smith Barney, Wachovia Securities (now Wells Fargo Advisors) and Merrill Lynch – have seen defections to RBC Wealth Management since the start of this year.

RBC Wealth Management has approximately $220 billion in global assets under management and $450 billion in global assets under administration. Internationally, the firm operates across 35 offices in the UK and Ireland, Europe, Asia, the Middle East, the Caribbean, Latin America and North America.

In the US, RBC Wealth Management operates in 200 locations in 43 states.