Doug McGregor and Mark Standish appointed to lead RBC Capital
Markets and to join RBC's Group Executive
TORONTO, September 24, 2008 — Royal Bank of
Canada (RY on the TSX and NYSE) today announced leadership
changes at RBC Capital Markets.
Doug McGregor has been appointed chairman & co-CEO of
RBC Capital Markets; and Mark Standish has been appointed
president & co-CEO of RBC Capital Markets. McGregor and
Standish will join RBC's Group Executive as co-group heads,
These appointments are effective November 1, 2008, in conjunction
with the retirement of Charles (Chuck) Winograd as chairman
and CEO of RBC Capital Markets. Chuck will remain with the
bank to facilitate transition into January 2009.
As chairman & Co-CEO, 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. As president &
co-CEO, 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.
"These appointments are recognition of Doug and Mark's
success in driving our steady growth as a global wholesale
bank," said Gordon M. Nixon, president and chief executive
officer of RBC. "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."
McGregor and Standish were appointed co-Presidents of RBC
Capital Markets in February 2007. McGregor, as Co-President,
led the firm's global investment banking business and was
responsible for RBC Capital Markets' global activities in
corporate finance, mergers and acquisitions, and equity sales
and trading. He also headed the North American real estate
brokerage, financing, capital markets and advisory business.
McGregor began his investment banking career in 1979 and joined
RBC DS as a managing director in 1990 through the acquisition
of Marcil Trust.
Standish, as co-President, led the firm's Global Markets business,
including global debt markets, financial products, debt finance,
fixed income and foreign exchange, as well as municipal finance.
The business serves over 6,000 active institutional investors
and issuers through 75 offices in 15 countries. Standish joined
RBC in New York in 1995 as head of proprietary and structured
trading. He has had a varied career in financial services
spanning 30 years, including experience in the U.K.
About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking
arm of RBC and is active globally in debt origination, sales
and trading, foreign exchange, infrastructure finance, structured
products, metals and mining, and energy. Its North American
platform includes a significant U.S. middle market investment
banking franchise and leading equity, underwriting, sales,
trading and research businesses. Bloomberg ranks the firm
as the 12th largest investment bank globally.
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Gillian Hewitt, Media Relations, Toronto, (416) 974-0668