Senior executive changes at RBC announced

Senior executive changes at RBC announced

Senior executive changes at RBC announced RBC has appointed Jennifer Tory, the current group head of personal & commercial banking (P&CB), to the role of chief administrative officer (CAO). Replacing Tory is Neil McLaughlin, currently the executive vice president of the Business Financial Services group at the P&CB unit. The changes are set to take effect on May 1.

In her new position, Tory will still report to RBC President and CEO Dave McKay; she will also continue to be a member of the Group Executive. McLaughlin’s promotion will have him reporting directly to McKay and joining the Group Executive.

“I am pleased that shareholders, clients and employees will benefit from Jennifer's nearly four decades of financial services experience in the critical role as CAO,” McKay said.

Tory has spent three years as group head, PC&B, during which she spearheaded the transformation of RBC’s Canadian retail bank to a digitally enabled relationship bank. With her as its leader, the P&CB unit achieved strong results despite challenging conditions, winning numerous industry awards including recent recognition from JD Power as the top ranker in customer service among the big five banks. Tory also oversaw the ongoing realignment of Carribean Banking toward better client service and long-term profitability.

McLaughlin has been with RBC since 1998. Over that time, he has held a variety of senior management and executive positions within the Canadian Banking unit, including roles in the Credit Card and Personal Lending businesses as well as distribution and operations. Prior to his role in Business Financial Services, he was senior vice president of marketing and channel strategy. He has also been senior vice president of risk operations within the Canadian Banking Operations unit.

“Throughout his career, Neil has acquired a breadth of experience across Canadian banking, consistently demonstrating his strong leadership, outstanding business acumen, and an ability to develop and execute new strategies to effectively acquire market share,” McKay said.

Related stories:
Sources: RBC may sell Asian wealth business
RBC’s Q1 results revealed