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
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
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.
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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