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This one will grab a lot of eyeballs. Especially those that exist at Alliance Bernstein. Bill Grayson, National Director for Family Offices at Bernstein Private Wealth has migrated to RBC in San Francisco. He’s taking $6M in annual production and nearly $1B in client assets with him. An absolutely massive win for RBC in the SanFran market and for inquiring minds across the country. It also sends a signal that RBC is willing to wade into the deeper recruiting waters that is private banking and family offices so to speak.

Mr. Grayson has spent 11 years as Aliiance Berstein’s head of family offices after all manner of stints on different boards of distinction. Starting his career in the financial services industry at Montgomery Securities in 1996, he migrated to JP Morgan and eventually landed at Bernstein. He’s been pivotal in growing their wealth management footprint over the past decade, but decided the ‘structure’ (code for payout) wasn’t ultimately optimal.

As you can imagine the competition for Mr. Grayson’s services were fierce given the size of his practice, and the expected ‘tail’ that should follow him to his firm of choice. RBC won the day based on all sorts of factors, but local and national leadership all played a significant role.

More to come…

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