TORONTO, Nov. 29, 2017 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced
that Mark Hughes, Group Chief Risk
Officer (GCRO), will retire effective April
9, 2018 after 37 years at the bank.
"Throughout his distinguished career, Mark has had a significant
impact on RBC's success. His strong understanding of RBC's
businesses, along with deep insights into the ever-evolving risk
and regulatory environment made him an exceptional GCRO and has
helped RBC execute our growth strategy supported by a foundation of
strong risk management," said Dave
McKay, RBC's President and Chief Executive Officer. "On
behalf of RBC, I would like to thank Mark for his many
contributions to RBC and to the global risk management industry
more broadly. We wish him all the very best in his upcoming
retirement."
Mr. Hughes joined RBC in 1981 and held progressively senior
roles at the bank primarily in Corporate Banking and Global Credit
in a number of international offices. He was Executive
Vice-President and Chief Operating Officer of Capital Markets
before being appointed Group Chief Risk Officer in 2013.
Graeme Hepworth, currently
Executive Vice-President, Retail & Commercial Risk, has been
appointed Deputy Chief Risk Officer, effective February 1, 2018 reporting to Mr. Hughes. On
April 9, 2018, Mr. Hepworth will
assume the role of Group Chief Risk Officer reporting to Mr. McKay
and he will join RBC's Group Executive as one of ten executives
responsible for setting the overall strategic direction of RBC.
Mr. Hepworth joined RBC in 1997 in Group Risk Management and
over the years held a number of progressively senior positions
supporting all of RBC's businesses and working in our core markets
outside of Canada as Head of U.S.
Market Risk, and Chief Risk Officer, Europe. In his current role, Mr. Hepworth
provides primary risk management support to Personal &
Commercial Banking, Wealth Management and Insurance, and
contributes to the risk strategies that enable these segments to
achieve their business objectives.
"Graeme's deep expertise in credit and market risk and exposure
to all of our key businesses, along with his global perspective
will serve him well in his new role. He will be an excellent
addition to our Group Executive Committee," adds Mr. McKay.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 80,000 employees who bring
our vision, values and strategy to life so we can help our clients
thrive and communities prosper. As Canada's biggest bank, and one of the largest
in the world based on market capitalization, we have a diversified
business model with a focus on innovation and providing exceptional
experiences to our 16 million clients in Canada, the U.S. and 35 other countries. For
more information, please visit rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-sustainability/.
SOURCE Royal Bank of Canada