RBC Wealth Management, part of Royal Bank of Canada (RY on TSX and NYSE) today announced the appointment of Steve Sokić to the position of Head of Ultra High Net Worth, Trust, Fiduciary & Tax.
In his new role, Mr Sokić will have a global client-facing mandate to develop trust and fiduciary solutions for RBC Wealth Management’s international ultra high net worth (UHNW) client base, and find new ways to leverage the business’ leading trust and fiduciary capabilities.
The creation of the new role is part of RBC Wealth Management’s wider strategy to increase its focus on UHNW clients and follows the recent appointment of Paul Patterson as Deputy Chairman, RBC Wealth Management, to lead the coordination and servicing of international UHNW families and institutional clients. Mr Sokić has relocated to Toronto from Jersey and will report to Paul Patterson.
Mr Patterson commented: “The ultra high net worth market remains a primary focus for us, allowing us to demonstrate the full scope of our integrated wealth proposition. Having worked with Steve for many years I know him to be an outstanding planner with excellent client handling skills and a deep knowledge of our Global Trust business. Steve’s understanding of the fiduciary and tax sectors, as well as his cultural affinity across multiple geographies will prove invaluable in his new post.”
A professional accountant by background, Mr. 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 in based in Jersey in 2006.