MSSB duo defects to RBC

Two senior financial advisers from Morgan Stanley Smith Barney have left RBC Wealth Management. Vincent D. Crudo and Patrick F. Duff joined RBC's New Haven, Conn., office as senior vice presidents and financial consultants. At Morgan Stanley Smith Barney, they were part of the firm's institutional fixed-income group and generated $3.4 million in trailing-12-month production off $340 million in client assets. RBC also said that Tracey A. Ten Eyck joined the team as a client-registered senior associate. With the addition of Mr. Crudo and Mr. Duff, RBC has recruited 299 consultants so far this year, outpacing the firm's previous high of 157 recruits for all of 2008, according to RBC spokesman Chris Nietupski. RBC now has more than $450 billion in assets under administration, more than $20 billion of assets under management and more than 4,000 financial consultants, advisers, private bankers and trust officers. Morgan Stanley acquired a controlling interest in Smith Barney earlier this year. E-mail Sue Asci at sasci@investmentnews.com.