Royal Bank of Canada announced a number of key executive appointments to accelerate its next phase of growth and further strengthen the organization's focus on clients, following the transformative acquisition of HSBC Bank Canada. These changes, effective September 1, 2024, better position RBC to take advantage of its scale, speed up decision making and elevate leaders to deliver on strategic growth priorities with clients at the centre. Doug Guzman, currently Group Head, RBC Wealth Management and Insurance, will become Deputy Chair, RBC.

In his new capacity, Mr. Guzman will remain a member of the Group Executive (GE), reporting to Mr. McKay. He will advise on enterprise priorities and provide senior RBC coverage to some of the bank's most important individual, family, corporate, institutional and government clients. Neil McLaughlin, currently Group Head, P&CB, will become Group Head, RBC Wealth Management.

Mr. McLaughlin will work closely with Mr. Guzman to ensure a smooth transition of the Wealth Management segment and support client development in the high net worth segment. Mr. McLaughlin has been Group Head, P&CB since 2017 and during that time he has delivered exceptional business and client growth, and led the market across nearly all major product categories while also achieving consistently high rankings in customer satisfaction. Under his leadership, P&CB enhanced the digital banking experience, including the introduction of the digital advice platform, MyAdvisor, and continuously added more value to clients through partnerships with leading brands and the expansion of the Avion Rewards loyalty program to all Canadians.

His leadership was also instrumental in the successful completion of the acquisition of HSBC Bank Canada. Erica Nielsen, currently Executive Vice President, Personal Financing Products, will become Group Head, RBC Personal Banking, reporting to Mr. McKay. Ms. Nielsen has held increasingly senior executive roles across RBC's consumer businesses, which include personal banking and investments, personal lending and home equity financing.

In 2023, she took on a broader role that included U.S. and Caribbean banking and she will retain oversight of these businesses going forward. Her deep business experience, strategic vision and exceptional ability to rally teams were critical to the successful completion of the acquisition of HSBC Bank Canada. Sean Amato-Gauci, currently Executive Vice President, Business Financial Services, will become Group Head, RBC Commercial Banking.

Mr. Amato-Gauci joined RBC in 1995 and has held progressively senior positions across P&CB, Group Risk Management and Finance, including executive positions leading consumer banking, credit cards, payments, rewards, digital, home equity financing and portfolio management and credit strategies. Under his leadership, RBC's commercial banking business will focus on driving growth through delivering world-class capabilities to business clients, including international trade finance. Additionally, RBC is appointing Jennifer Publicover to the role of Group Head, RBC Insurance, and she will join the Group Executive leadership team, reporting to Mr. McKay, with responsibility for driving the strategic direction of RBC's insurance organization.

Ms. Publicover has been CEO of RBC Insurance since 2023 where she has developed a digitally-driven growth strategy that includes leveraging the capabilities, relationships and channels from across RBC. The elevation of her role will better position her to execute on that strategy. She brings broad experience including as SVP, Products & Strategy for RBC Wealth Management, where she played a critical role in the acquisition of Brewin Dolphin, creating one of the largest wealth managers in the U.K., Channel Islands and Ireland.

Jennifer also has 20 years of global experience in investment banking and capital markets.