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Royal Bank of Canada taps Jefferies exec to lead US wealth management biz

Michael Armstrong, JefferiesLLC's global headof wealth management, is set to join Toronto-based later this yearas head of its U.S. wealth management business, Bloomberg News reported April29, citing an internal memo.

Armstrong will replace John Taft, CEO of RBC WealthManagement U.S., who intends to retire on May 31, according to the report.