RBC Unifies Global Transaction Banking Under Single Business

Royal Bank of Canada (RBC) has established Global Transaction Banking (GTB) as a unified global business, aiming to become a leading global transaction banking franchise. The new structure combines RBC's transaction banking capabilities from Commercial Banking and Capital Markets under shared leadership and a single strategy.

Sean Amato-Gauci and Derek Neldner will jointly lead GTB, with responsibilities for establishing RBC as a global transaction banking leader across all client segments. They are accountable for delivering greater value to clients through relationship coverage, product expertise, technology, and execution.

Kartik Kaushik has been appointed Head of Global Transaction Banking, Product, Platforms, and Solutions, while Michael Klopchic will lead Global Transaction Banking, Client Coverage. GTB's growing suite of capabilities includes RBC Clear, a digital cash management platform in the U.S., and RBC Edge, a digital cash management platform in Canada.

RBC aims to generate new deposits that will fund its next phase of growth through GTB. The bank's President and CEO, Dave McKay, said, 'Being more globally connected isn't just about where we operate; it's about how we bring the full strength of RBC to our clients.'