Mr Thompson joins RBC Wealth Management from UBS, having been branch manager of the Swiss bank’s Casper office since 1997.

In his new role Mr Thompson oversees a team of ten staff, seven of whom are financial consultants. He reports to Dan Ball, director of RBC Wealth Management's Great Falls, Montana complex.

Mr Thompson’s appointment follows news that RBC Wealth Management has recently recruited UBS veteran Mark Dewane as a financial consultant for its Phoenix, Arizona office.

Mr Dewane had been with UBS for 24 years and had approximately $160 million in client assets under management. He was joined at RBC by senior client associate Cheryl Woodring.

UBS is not alone in suffering defections to RBC Wealth Management in the US. Since last November the firm has recruited 200 US advisors, with Credit Suisse, Smith Barney, Wachovia Securities (now Wells Fargo Advisors) and Merrill Lynch all having lost staff.