RBC Wealth Management President Tom Sagissor to Step Down
RBC Wealth Management has confirmed that Tom Sagissor, who has served as president of the firm since 2016, will step down from his role on Jan. 1 in a company reorganization.
Sagissor will transition to a vice chair role, while his position will be replaced by East Divisional Director Pat Vaughan and Central Divisional Director Wally Chapman, who will co-lead the private client group.
“As Vice Chair, Tom will remain a champion of the financial advisor/client relationship, and he’ll continue to use his innate talent to inspire others by connecting with recruits, advocating for advisors and mentoring rising stars,” said Michael Armstrong, CEO of RBC Wealth Management U.S. “With his deep commitment, he has shaped our shared vision and the culture that sets us apart from our peers. This transition is a natural evolution of our leadership structure and positions us well for the future. Wally and Pat both have decades of experience motivating advisors and teams and driving strong business results.”
Sagissor joined Dain Bosworth, a predecessor company of RBC Wealth Management, in 1994 as a financial advisor. Prior to that, he was a professional hockey player, spending two years with the Montreal Canadiens and two seasons with a Slovenian team, the Ljubljana Dragons.
“It wasn’t an easy decision, but as my personal ambitions and priorities change, this is the right move for me,” Sagissor said in a statement.
In the new roles, Vaughan and Chapman will lead the day-to-day operations of the firm’s private client group, comprised of more than 2,100 advisors in 42 states.
Chapman began his career as an advisor at Merrill Lynch in 1988. He joined RBC in the late 1990s as an advisor.
Vaughn began his career as an advisor at Kidder Peabody, an old brokerage firm that eventually became part of Paine Webber, in 1984. He went on to hold various roles at Ferris, Baker Watts, including as director of the private client group when that firm was acquired by RBC in 2008.