RBC Capital Markets, the corporate and investment banking arm of the Royal Bank of Canada, has appointed Doug McGregor as the new chairman and co-CEO and Mark Standish as the new president and co-CEO of the company.
Mr McGregor and Mr Standish will join RBC’s group executive as co-group heads of capital markets. These appointments are effective November 1, 2008, in conjunction with the retirement of Charles Winograd as the chairman and CEO of RBC Capital Markets. Mr Winograd will remain with the bank to facilitate transition into January 2009.
As chairman and co-CEO, Mr McGregor will assume specific responsibility for driving client relationships, and managing the firm’s investment banking, equity agency trading and credit businesses. He will continue to be based in Toronto, Canada. As president and co-CEO, Mr Standish will have responsibility for the firm’s sales and trading activities, financing, as well as oversight and management of the firm’s balance sheet. He will continue to be based in New York, US.
Gordon Nixon, president and CEO of the Royal Bank of Canada, said: These appointments are recognition of Doug and Mark’s success in driving our steady growth as a global wholesale bank. Under their joint leadership, RBC Capital Markets will continue to execute its long-term strategy and further strengthen its position as a premier investment bank around the world.