RBC Wealth Management has confirmed the coming departure of Phil Cutts, head of advisory for the British Isles, who is to retire at the end of March.

Mr Cutts has been with the RBC group since 1985, holding a variety of roles, initially in the finance group in London, where he rose to become vice president of finance and administration for RBC's European operations. He then went on to head the bank’s loan syndication and structured finance group, also in London, before moving into wealth management.

In his current role Mr Cutts is responsible for the distribution of the bank’s capital markets products internationally, along with overseeing the London-based investment advisory business.

RBC will likely seek a replacement for Mr Cutts, but as yet no firm plans are in place, WealthBriefing understands.