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Royal Bank of Canada Launches Global Transaction Banking Division

In a strategic move to enhance its international banking capabilities, the Royal Bank of Canada (RBC) has officially launched its Global Transaction Banking (GTB) division. This new unified structure aims to integrate the bank's transaction banking services across different sectors, ensuring clients receive top-tier support regardless of geographical boundaries.

Strengthening Global Presence

The main objective of the GTB division is to solidify RBC's presence in the international banking arena. By combining the strengths of its Commercial Banking and Capital Markets sectors, RBC is poised to offer trusted expertise to clients looking to expand their operations beyond national borders. The bank's ambition is to develop a premier global transaction banking franchise characterized by strong relationships, enhanced capabilities, international reach, and cutting-edge digital experiences.

Leadership Structure

The GTB will be co-led by two prominent figures at RBC: Sean Amato-Gauci, the Head of Commercial Banking, and Derek Neldner, the CEO and Head of RBC Capital Markets. Together, they will steer the division towards achieving its goal of establishing RBC as a global leader in transaction banking services, catering to various customer segments.

Comprehensive Service Offerings

RBC's GTB aims to bring together its commercial transaction banking capabilities from Canada and the United States with a cohesive leadership and strategic vision. This integration will involve aligning client coverage, product expertise, technology, and execution to maximize value for clients. Notably, the introduction of this new structure will not affect the financial presentation of RBC, as results will continue to be reported in accordance with current business segments.

New Leadership Appointments

Further bolstering the strength of the GTB unit, Kartik Kaushik has been appointed as Chief of Products, Platforms and Solutions, while Michael Klopchic has been named Head of Client Coverage. Both report directly to Amato-Gauci and Neldner. Kaushik will focus on product strategy, innovation, and platform deployment, whereas Klopchic will lead client engagement, sales execution, and market strategy.

Innovative Digital Solutions

The GTB boasts a growing array of capabilities, including RBC Clair, a cash management platform for U.S. clients, and Atouts RBC, designed for Canadian clients. Together, these platforms address the needs of an increasing number of local and international customers throughout their working capital lifecycle. Additionally, the GTB offers expertise in foreign exchange operations, payments, international trade finance, and liquidity management, positioning these services at the heart of RBC’s strategy to generate new deposits and facilitate its growth phase.

RBC's Leading Position

RBC is a leader in the transaction banking sector in Canada, holding the largest wholesale deposit portfolio and leading the industry in payment solutions. With its recent rapid growth in the U.S. market, the Global Transaction Banking division is well-positioned to leverage this foundation for accelerated global expansion.

A Partnership for Success

Dave McKay, President and CEO of RBC, emphasized the importance of global presence being more than mere geography. It's about the capacity to mobilize all of RBC’s resources for the benefit of its clients. In today's complex economic environment, businesses require a trusted partner who understands local nuances while providing a global perspective, assisting in transferring funds, managing liquidity and risks, and ensuring smooth international operations.

About RBC

As a global financial institution, RBC takes a goal-oriented approach guided by principles to achieve leading performance. With over 101,000 employees, RBC leverages imagination and insight to realize its vision, values, and strategy, helping clients succeed and communities thrive. As Canada’s largest bank and one of the biggest worldwide by market capitalization, RBC relies on a diversified and innovation-focused business model to deliver an exceptional experience to its over 19 million clients across Canada, the U.S., and 27 other countries. For more information, visit rbc.com.

RBC is committed to supporting a variety of community initiatives through donations, investments, and employee volunteer work. To find out more, please visit rbc.com/peopleandplanet.