Sept. 17 (Reuters) – The Royal Bank of Canada (RY.TO) on Friday appointed two women, already in senior positions at the country’s largest lender, to its management team, joining other banks national and global organizations that increase diversity in their senior ranks.
Head of Investor Relations Nadine Ahn will become Royal Bank’s new CFO effective Nov. 1, succeeding Rod Bolger, who will be leaving after a decade with the lender, RBC said in a statement.
General Counsel Maria Douvas will assume the newly created role of Legal Director, with immediate effect.
Royal Bank shares fell 0.25% to C $ 129.16 at the start of trading in Toronto, in line with the broader benchmark (.GSPTSE).
Big banks around the world are facing increasing pressure to make change in an industry that has historically had few women or people of color in its senior ranks, with that change accelerating in recent years.
Last year, Laurentian Bank of Canada (LB.TO) appointed Rania Llewellyn CEO and President, making her the first woman to head a major Canadian bank.
Last year, Citigroup Inc (CN) appointed Jane Fraser as its new CEO, making her the first woman to head a major Wall Street bank.
Canadian banks have made changes to their leadership even outside of the diversity push.
Last month, the National Bank of Canada (NA.TO) appointed Laurent Ferreira, COO, CEO, to replace Louis Vachon, who is retiring in October.
The Toronto-Dominion Bank (TD.TO) in June appointed CFO Riaz Ahmed as head of securities and wholesale banking, Kelvin Tran, former executive vice president of corporate finance, taking over as as CFO.
Ahn joined RBC, Canada’s largest lender, in 1999 and has held senior financial positions, including corporate treasury.
Douvas joined RBC in 2016 and has served as the bank’s General Counsel and Labor Law and General Counsel in the United States.
The Royal Bank also said that Neil McLaughlin, head of its personal and commercial banking unit, will take the helm of start-up funder RBC Ventures, replacing Mike Dobbins, who will be leaving on November 1 after more than a decade. at the lender.
Reporting by Nichola Saminather in Toronto and Noor Zainab Hussain in Bengaluru; Editing by Maju Samuel and Jonathan Oatis
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