TORONTO, Feb. 25, 2014 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) announced today that Jennifer Tory has been appointed Group Head, Personal & Commercial Banking. Ms. Tory will take over in April 2014 from Dave McKay, who, as previously announced will become President of RBC on February 26, 2014 and then President and CEO on August 1, 2014.
In this role, Ms. Tory will be responsible for the strategy and performance of the Personal & Commercial Banking segment which comprises RBC's personal banking operations and certain retail investment businesses in Canada, the Caribbean and the U.S., as well as RBC's commercial banking operations in Canada and the Caribbean. She will report to Mr. McKay and will become a member of RBC's Group Executive, which is responsible for setting the overall strategic direction of the bank.
"Jennifer's depth of experience in Retail and Commercial banking ideally positions her to take on leadership of approximately 35,000 employees who are committed to serving the needs of our clients. I am delighted that she will be joining our Group Executive team and I know that we will all benefit from her knowledge, ideas and strong client focus," said Gord Nixon, President and Chief Executive Officer.
"I've worked with Jennifer for many years. She is an outstanding leader with a track record of strong performance throughout her career. Her experience in setting business strategies coupled with her execution capabilities will serve her well as she builds on the strength and momentum of Personal & Commercial Banking. Her passion for employees, clients, and community set her apart," noted Mr. McKay.