RBC Wealth Management, part of Royal Bank of Canada, has recruited financial consultant Craig Shaver, formerly of UBS, for its Minneapolis office.

Mr Shaver, who has $250 million in assets under management and more than $750,000 in production, is joined at RBC by Jodi Jenson, senior registered client associate. Their focus is on planning, wealth transfer and investment advisory services for families, foundations, corporations and non-profit institutions.

In mid-April RBC Wealth Management revealed that it had hired an eight-strong former UBS team - with more than $400 million in assets under management - for its Portland, Oregon office. The team, known as Spence Partners, was founded in 1990 by Steven Spence, senior vice president-financial consultant, and had since evolved to comprise eight members.

Earlier in April RBC recruited Alan Danielson and Robert Brown as vice-president-financial consultants for its Hunt Valley, Maryland complex. The duo had previously been at UBS’s Baltimore office.

Additionally, at the end of March a former UBS team known as the Di Vito Consulting Group, which had $105 million in client assets, joined RBC Wealth Management in Pheonix, Arizona.

Since 1 November 2008, the start of its current fiscal year, RBC Wealth Management has recruited 186 advisors in the US; 157 advisors were hired for the whole of the previous year. The firm has tapped a number of its rivals in the US, several times for multiple teams. In addition to UBS, Wachovia Securities (now Wells Fargo Advisors), Merrill Lynch and Smith Barney have lost teams to RBC Wealth Management since the start of the year.

RBC Wealth Management has approximately $220 billion in global assets under management and $450 billion in global assets under administration.

Internationally, RBC Wealth Management operates across 35 offices in the UK and Ireland, Europe, Asia, the Middle East, the Caribbean, Latin America and North America.