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RBC Wealth Management Recruits $300 Million Team From Smith Barney

Wendy Spires

20 January 2010

The wealth management arm of Royal Bank of Canada has lifted out the Menefee/Meagher team - which has over $300 million in assets under management - from Smith Barney.

The team, which consists of John Menefee, senior vice president – financial consultant, and Tom Meagher, senior vice president – financial consultant, is now based in RBC Wealth Management’s Bend, Oregon office. In their new roles the duo, who specialise in fixed income and equities, report to Stuart Johns, director of the Bend branch.

The hire of Messrs Menefee and Meagher closely follows news that RBC Global Asset Management, part of RBC Wealth Management, has added Philippe Langham and Michael Joynson to its London team.

Mr Langham, who has joined RBC GAM as a portfolio manager, will be responsible for establishing and leading RBC GAM’s emerging markets equities team. Mr Joynson, meanwhile, has been hired as a senior member of the European equities team.

Mr Langham was most recently head of global emerging markets at Société Générale Asset Management in London, and prior to this was based in Zurich as head of Asia and emerging markets for Credit Suisse. Mr Joynson joins RBC from Citigroup, where he was a director in global equity strategy. Before this he was at Invesco Perpetual.

As well as appointments from outside the firm, RBC GAM has also recently relocated Jane Lesslie and Soo Boo Cheah, both fixed income portfolio managers, from Toronto to London.