Gordon Nixon, Royal Bank of Canada’s (RBC) president and CEO, plans to retire effective Aug. 1, 2014, after 13 years in this role.
”Gord has had a remarkable career at RBC, and during his 13 years as CEO, earnings and market share have increased significantly in RBC’s five business segments both in Canada and internationally,” says David O’Brien, the company’s chairman.
Dave McKay, group head of personal and commercial banking, will be appointed president at the annual meeting on Feb. 26, 2014, and take over as CEO on Aug. 1, 2014.
“Dave’s distinguished 25-year career at RBC—which includes retail banking, risk management and international experience in corporate banking—ideally positions him to take RBC into the future,” O’Brien notes.
RBC also announced that Mark Standish, co-group head of RBC Capital Markets and RBC Investor & Treasury Services, will be leaving next year.
Doug McGregor, currently co-group head of RBC Capital Markets and RBC Investor & Treasury Services, will assume full responsibility for the businesses effective immediately.
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