RBC names co-CEOs to lead its European arm

Royal Bank of Canada has appointed Sian Hurrell and Robin Beer as co-CEOs of RBC Europe Limited, placing the bank's capital markets and wealth management operations in the region under joint leadership. 

In the expanded roles, Hurrell and Beer will set the strategic direction across Europe and take responsibility for the governance and regulatory oversight of RBC's capital markets and wealth management activities there, according to the bank.  

Both will keep their existing positions alongside the new mandate: Hurrell stays on as head of capital markets Europe and head of global sales and relationship management, while Beer continues as CEO of RBC Wealth Management Europe. 

RBC framed the move as part of a push to speed up growth across its European businesses.  

The bank runs three business lines in the region, spanning asset management, capital markets and wealth management, and said it wants the units to work more closely together to win market share. 

RBC pointed to its acquisition of Brewin Dolphin as a driver of its wealth management expansion, saying the integration had made it one of the top five providers in the UK.  

The bank also said it had grown its capital markets business across client sectors and geographies. 

"After many years of building and investment, we are ready to accelerate our growth ambitions in Europe," said Derek Neldner, group head of RBC Capital Markets.  

He said the bank would use its combined scale across three European businesses to serve more clients and take market share. 

Neil McLaughlin, group head of RBC Wealth Management, tied the appointments to the bank's wider international plans.  

"With the integration of RBC Brewin Dolphin, the UK and Europe are an important part of our global growth ambitions and we're focused on building our presence in the market," he said.  

McLaughlin added that RBC aimed to provide trusted insight and advice to more clients amid shifts in global trade and a fragmented market.