Mr Gold, who specialises in tax-efficient investment planning, philanthropy, cross-border issues and charities, joins the firm from Alliance Bernstein Global Wealth Management, where he worked between 2006 and 2009.

In his new role Mr Gold will advise high and ultra high net worth individuals, foundations and charities on asset allocation and portfolio investment strategies, RBC Wealth Management said in a statement. He will also provide access to the firm’s tax, advisory and discretionary investment management, credit, custody and trust services.

The team that Mr Gold has joined is led by Philip Harris, head of UK domestic at RBC Wealth Management. Commenting on the appointment, Mr Harris said that the firm plans to continue hiring “the cream of the crop among UK wealth managers” over the coming months and that announcements of further appointments should be expected.

Last week RBC reported net income of C$219 million (around $212 million) from its wealth management operations for the quarter ended 31 January 2010, up by C$58 million or 36 per cent from the previous quarter, and up by C$91 million or 71 per cent year-over-year.

The strong performance in wealth management compared to the same quarter last year was due to higher average fee-based client assets and transaction volumes, cumulative accounting adjustments amounting to C$39 million (or C$34 million after tax), and a favourable income tax adjustment of C$30 million. However, compared with the previous quarter assets and transaction volumes were down, and the upswing in net income was due to the accounting and tax adjustments, the bank said.

As a group, RBC reported net income of C$1.5 billion, up 35 per cent year-over-year and rising 21 per cent from the preceeding quarter.