TORONTO, Aug. 21, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced
that Doug McGregor, Group Head, RBC
Capital Markets and RBC Investor & Treasury Services, will
retire on January 31, 2020 after 37
years at the bank.
"Under Doug's leadership, RBC Capital Markets has executed on a
successful growth strategy to create a top 10 global investment
bank with a strong client focus, exceptional talent, and a
disciplined approach to risk management," said Dave McKay, CEO of RBC. "Doug will be leaving
the business well-positioned for continued success and on behalf of
the Board of Directors, our shareholders, clients and employees,
I'd like to thank Doug for his significant contributions to RBC.
His leadership of the business and in the industry have been
exemplary, and we wish him all the best in his retirement."
Mr. McGregor joined RBC in 1983 and held progressively senior
roles at the bank, becoming Capital Markets CEO in 2008. He assumed
responsibility for Investor & Treasury Services in 2012.
Derek Neldner, Global Head of
Investment Banking at RBC Capital Markets, has been
appointed Group Head, Capital Markets, effective November 1, and will join RBC's Group Executive
as one of the ten executives responsible for setting the overall
strategy for the bank, reporting to Dave
McKay. On November 1,
Doug McGregor will become Chairman,
RBC Capital Markets through to his retirement.
Mr. Neldner joined RBC in 1995, and has held increasingly senior
roles across the investment bank. Previously, Mr. Neldner was Head
of Canadian & Asia Pacific Investment Banking, Head of Canadian
Energy Investment Banking and a Managing Director in Equity Capital
Markets. In his current role as Global Head of Investment Banking,
he is responsible for some of the firm's most important corporate
and institutional client relationships. He has been instrumental in
maintaining RBC Capital Markets' leading position in Canada while growing the business in key U.S.
and global markets. Mr. Neldner is a board member of The Hospital
for Sick Children (SickKids) Foundation and is a member of the
Major Individual Giving campaign cabinet for the United Way.
"Derek has an outstanding track record in leadership and in
delivering strong business value. His focus on building deep
relationships with a global client base and attracting and
retaining top talent, coupled with his sound judgment and prudent
approach to risk, position him well to lead this important global
business and contribute to RBC's overall strategy," said Mr.
McKay.
Also, effective November 1,
Mike Bowick will be appointed
President, RBC Capital Markets. Mr. Bowick will report to Mr.
Neldner and he will continue to be responsible for the Global
Markets business and Treasury Market Services operations.
In addition, Doug Guzman, Group
Head, Wealth Management & Insurance, will assume leadership for
Investor & Treasury Services. Francis
Jackson, CEO, Investor Services, will report to Mr. Guzman.
Investor & Treasury Services will continue to report as its own
business segment.
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 86,000+ 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 more than 16 million clients in Canada, the U.S. and 34 other countries. Learn
more at 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.
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SOURCE Royal Bank of Canada