RBC Wealth Management has made a top-level appointment for its ultra high net worth, fiduciary and tax business as it looks to expand this side of the business internationally.

RBC Wealth Management, part of Royal Bank of Canada, has appointed Steve
Sokić as head of ultra high net worth, trust, fiduciary and tax - a
newly-created role for which Sokić has relocated from Jersey to Toronto, the Canada-headquartered
firm said today. 

Reporting to London-based Paul Patterson - who was recently named deputy chairman of
RBC Wealth Management for UHNW, international - Sokić will develop trust and fiduciary solutions for the firm’s international UHNW clientele, and find new ways to leverage the business’ trust
and fiduciary capabilities.

According to a statement, the creation of this role is part of RBC
Wealth Management’s wider strategy to increase its focus on UHNW clients.

“The ultra high net worth market remains a primary focus for us, allowing
us to demonstrate the full scope of our integrated wealth proposition,”
Patterson said, adding that he has worked with Sokić for many years and knows
him to be an “outstanding planner with excellent client handling skills” and a
deep knowledge of the firm’s global trust business.

Sokić began his finance career at Deloitte in Canada, where he spent 10
years advising on international trust, tax and estate planning matters. He
joined RBC’s trust operation in the Bahamas in 2002, before assuming his most
recent role of trust director, based in Jersey, in 2006.

RBC Wealth Management has over C$562 billion (about $572.2 billion) of assets under
administration and more than C$324 billion (about $331.6 billion) in assets under management.