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RBC Capital Markets Appoints New Credit Analyst

With a focus on senior financials

London, 4 January 2011 — RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RY on TSX and NYSE), today announced that it has hired Carlo Mareels, as a Director, Senior Financials Credit Analyst within its European Credit Research team and reports to Roger Appleyard, Global Head of Credit Research.

Mareels, who will be based in London, joins RBC Capital Markets with over 10 years of financials experience. Most recently he was at HSBC, covering European banks both as an equity and credit analyst. Prior to this, Mareels was a Banks credit analyst at Morgan Stanley.

Commenting on the appointment, Richard Talbot, Co-Head of Global Research said: "Increased volatility in the sector coupled with new regulatory measures aimed at financial institutions is leading to greater demand for Banks research. Carlo will be instrumental in offering this in-depth coverage to our client base and he will be a vital addition to our global team of credit and equity Bank analysts."

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