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Royal Bank of Canada establishes Global Transaction Banking

Royal Bank of Canada (RBC) has established Global Transaction Banking (GTB) as a unified global business, advancing RBC’s role as a globally connected bank providing trusted expertise to help clients grow across borders.

GTB will be jointly led by Sean Amato-Gauci, Group Head, Commercial Banking and Co-Head, Global Transaction Banking, and Derek Neldner, CEO and Group Head, RBC Capital Markets and Co-Head, Global Transaction Banking. Together, they are accountable for establishing RBC as a global transaction banking leader across all client segments.

In a statement, RBC said the combined business brings together RBC’s transaction banking capabilities from across Commercial Banking, in Canada and the U.S., and Capital Markets under shared leadership and a single strategy, connecting relationship coverage, product expertise, technology and execution to deliver greater value for clients.

RBC said the new structure will not change the bank’s financial reporting and results will continue to be reported within existing business segments.

“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,” said Dave McKay, President and Chief Executive Officer of RBC. “For businesses navigating a more complex economy, that means being a trusted partner who understands both local nuances and the global picture — helping them move money, manage liquidity and risk, and operate seamlessly on an international basis.

Kartik Kaushik has been appointed Head, Global Transaction Banking — Product, Platforms and Solutions, and Michael Klopchic has been appointed Head, Global Transaction Banking — Client Coverage, each will report jointly to Sean and Derek. Kartik will lead product strategy, innovation and platform delivery, while Michael will lead client coverage, sales execution and go-to-market strategy.

RBC said the bank’s ambition is to build a leading global transaction banking franchise based on deep relationships, best-in-class capabilities, global scale and a leading digital experience.

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