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RBC Capital Markets Names European CEO and COO

Reaffirms strategic focus in Europe and commitment to growth

LONDON, TORONTO, August 15, 2011 —RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RY on TSX and NYSE) today announced two key executive appointments to its European leadership team.

Harry Samuel, currently global co-head of Fixed Income and Currencies and global head of Treasury Services, has been appointed chief executive officer, Europe, RBC Capital Markets. Harry has spent 22 years working at RBC in London, Toronto and Sydney, with responsibilities for RBC's global fixed income, foreign exchange, wholesale funding, liquidity and securities finance. Having been closely involved in RBC's growth in European capital markets for the past 12 years, Harry, in conjunction with RBC Capital Markets' global Operating Committee, will provide strategic direction and leadership for all business groups in Europe.

David Thomas, currently global head of Technology and Operations, has been appointed chief operating officer, Europe, RBC Capital Markets. David joined RBC in 1992 and in his 19 years with the investment bank has held senior positions in IT, risk management and compliance. In his new role, David will be jointly responsible for overseeing RBC Capital Markets in Europe.

In their new roles, Harry and David replace John Burbidge, CEO, RBC Capital Markets, who retired from the investment bank effective July 31. John, who has been with RBC for over 27 years, has presided over transformational growth and change in Europe in his roles as COO and CEO for its capital markets business in the region.

"Harry and David have an outstanding track record within RBC and as such they are extremely well placed to work with our global managers to oversee the delivery of our strategy in Europe and our plans for growth in the region. The strength of our leadership team in Europe demonstrates the importance that we place on the region and on servicing our domestic and international clients that use London as a global business hub," said Mark Standish, co-CEO, RBC Capital Markets.

Doug McGregor, co-CEO, RBC Capital Markets, added: "Over the past few years, we have built solid foundations for our business in Europe reaching several milestones. With some of our global heads of business based in London as well as some of our key clients, Harry and David will provide leadership as well as first-hand expertise to our clients in the region."

RBC Capital Markets now employs over 1,300 people in Europe. This latest announcement in Europe comes on the heels of RBC Capital Markets' appointment in May of Doug Moore as the firm's head of Asia.

About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking arm of RBC and is consistently ranked among the top 11 investment banks globally. With over 6,300 employees, RBC Capital Markets is active globally in fixed income, foreign exchange, M&A and ECM. Working with clients through operations in Asia and Australasia, the UK and Europe and in every major North American city, RBC Capital Markets provides products and services from 75 offices in 15 countries. For more information, please visit www.rbccm.com.

About RBC
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada's largest bank as measured by assets and market capitalization, and among the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 79,000 full- and part-time employees who serve close to 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 56 other countries. For more information, please visit rbc.com.

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Media Enquiries:
RBC Capital Markets: Louisa Fairman - Tel: +44 (0)20 7029 7821
Greentarget, London: Dafina Grapci-Penney - Tel: +44 (0) 20 7324 5484