Royal Bank of Canada (RBC) has appointed Sara Mahaffy as its new head of Canadian equity strategy, a role that has been vacant for a decade. Mahaffy, a McGill University graduate, previously worked under Lori Calvasina, RBC’s head of US equity strategy. This marks the first time in ten years that RBC’s capital markets division has had a dedicated strategist focused on the domestic stock market.
In her new position, Mahaffy has set a target for the Toronto Stock Exchange (TSX) at 38,600. This target reflects RBC’s strategic outlook on the Canadian equity market. The appointment and target were confirmed by an RBC spokesperson.
Mahaffy’s background includes extensive experience in equity strategy, making her a key addition to RBC’s capital markets team. Her role will involve analyzing market trends, providing investment insights, and guiding clients on Canadian stock market opportunities.