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News Releases


RBC names Fukakusa CAO and CFO

Chief Risk Officer Friis joins Group Executive

TORONTO, January 26, 2009 — RBC today announced that Janice Fukakusa has been appointed Chief Administrative Officer in addition to her current role as CFO. As Chief Administrative Officer and CFO, Ms. Fukakusa is responsible for enterprise oversight of technology and operations, while continuing to lead the enterprise Finance function.

"Janice's deep understanding of our business and her proven success as a leader make her the ideal person for this expanded role," said Gordon M. Nixon, RBC's President and Chief Executive. "Janice will lead process and technology improvements to help our businesses improve the client experience and competitively differentiate RBC."

Morten Friis, Chief Risk Officer, has been appointed to RBC's Group Executive, the bank's most senior management committee. "Morten has led RBC's risk management activities effectively through all market conditions. I know he will make a significant contribution to the discussions and strategic decisions of the Group Executive going forward," said Mr. Nixon.

Added Mr. Nixon, "We are ensuring that the top management team's decisions benefit fully from our risk management capabilities and that we optimize the management of our day to day operating activities."

Janice Fukakusa
As RBC's Chief Administrative Officer and Chief Financial Officer, Janice Fukakusa has enterprise oversight of technology and operations while continuing to lead the enterprise Finance function.

Ms. Fukakusa has been Chief Financial Officer since 2004 and in 2007 became a member of RBC's Group Executive, which sets the overall strategic direction of RBC.

Ms. Fukakusa joined RBC in 1985 and has held positions in retail and business banking, corporate banking, corporate finance, treasury, strategic development and internal audit. She also worked at PricewaterhouseCoopers LLP where she obtained the professional designations of chartered accountant and chartered business valuator. Ms. Fukakusa obtained her Bachelor of Arts from University of Toronto and holds an MBA from the Schulich School of Business.

Morten Friis
As Chief Risk Officer of RBC, Mr. Friis oversees the strategic management of enterprise risk. He is a member of RBC's Group Executive, which sets the overall strategic direction of RBC.

Mr. Friis joined RBC in 1979 and was appointed Chief Risk Officer in 2004. Prior to this position, Mr. Friis was Executive Vice-President and Chief Credit Officer for RBC. Mr. Friis joined RBC's Group Risk Management in 1997 as a Senior Vice-President with primary responsibility for credit and counterparty risk issues. Mr. Friis has a Bachelor of Arts degree in Economics from Queen's University and an MBA from Harvard Business School.

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For more information, contact:
Jackie Braden,
RBC Media Relations, 416-974-2124, jackie.braden@rbc.com


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01/26/2009 09:05:36