RBC Unifies Transaction Banking Capabilities into Single Global Business

Royal Bank of Canada (RBC) has unified its transaction banking capabilities into a single global business, dubbed Global Transaction Banking (GTB). The new entity will be jointly led by Sean Amato-Gauci and Derek Neldner, who are responsible for establishing RBC as a global leader in transaction banking. GTB brings together RBC's transaction banking capabilities from Commercial Banking and Capital Markets under shared leadership and a single strategy.

The combined business includes RBC Clear, a digital cash management platform in the U.S., and RBC Edge, a digital cash management platform in Canada. These platforms serve an expanding base of domestic and global clients across their working capital lifecycle needs. GTB also offers leading expertise in foreign exchange, payments, trade finance, and liquidity management.

RBC aims to build on its existing strengths in transaction banking, including a #1 position in Canada and rapidly growing momentum in the U.S. The bank's ambition is to generate new deposits that will fund its next phase of growth.