RBC has established a unified Global Transaction Banking division, combining its commercial banking and capital markets transaction capabilities under new joint leadership.
RBC Unifies Transaction Banking Operations Under New Global Division
Royal Bank of Canada (RBC) has announced the formal creation of a unified Global Transaction Banking (GTB) division, bringing together capabilities that were previously spread across its Commercial Banking and Capital Markets units.
The move, announced on August 25, is intended to strengthen RBC’s position as a globally connected bank and support clients operating across borders.
The new division will be jointly led by Sean Amato-Gauci, Group Head of Commercial Banking, and Derek Neldner, CEO and Group Head of RBC Capital Markets, who will serve as Co-Heads of GTB. Both executives will be responsible for building RBC into a leading global transaction banking franchise across all client segments.
Two additional leadership appointments were also announced. Kartik Kaushik will take on the role of Head of Global Transaction Banking for Product, Platforms and Solutions, overseeing strategy, innovation and platform delivery.
Michael Klopchic has been named Head of Global Transaction Banking for Client Coverage, responsible for sales execution and go-to-market strategy. Both will report jointly to Amato-Gauci and Neldner.
The GTB unit will incorporate RBC’s existing digital cash management platforms, including RBC Clear in the United States and RBC Edge in Canada, alongside the bank’s foreign exchange, payments, trade finance and liquidity management operations. RBC noted that the restructuring will not alter its financial reporting, with results continuing to be disclosed within existing business segments.
RBC said it currently holds a leading position in transaction banking in Canada, including the largest wholesale deposit portfolio in the market, and is seeing growing momentum in the United States as it looks to expand the business further.
