Caroline Mulroney starts as vice chair
The former Ontario cabinet minister's appointment as vice chair, reporting to Derek Neldner, took effect.
Canadian Investment Bank
Royal Bank of Canada's global corporate and investment bank, which RBC describes as having the scale of a top-10 global investment bank.
RBC Capital Markets is the brand under which Royal Bank of Canada runs its corporate and investment banking and markets business; several legal entities operate under it, including RBC Dominion Securities Inc., RBC Capital Markets, LLC and RBC Europe Limited. It advises and finances corporations, institutional investors, asset managers and governments through Corporate & Investment Banking (M&A, equity and debt underwriting, lending, transaction banking) and Global Markets (equities, fixed income, currencies, commodities and funding). RBC lists 55 offices in 16 countries and over 7,600 professionals; about 70% of segment revenue now comes from outside Canada, roughly half from the U.S., which leadership calls its second home market. In fiscal 2025 the segment earned a record C$5.4 billion on C$14.4 billion of revenue, and its lineage traces to Dominion Securities, founded in 1900.
45 interview reports6 open roles314 deals28 people469 sources
Advisory and capital raising for corporates, sponsors and governments through four core products (M&A, equity capital markets, debt capital markets and leveraged finance), with over 1,000 sector-focused investment banking professionals. Reorganized in May 2024 into global coverage, global M&A and global capital markets groups under one global head.
Buy-side and sell-side advice, fairness opinions, spin-offs and restructurings, activism defence and strategic alternatives reviews. RBC's December 2025 strategic update cited a 73% YoY rise in closed large-fee M&A and record M&A revenue.
A product group inside investment banking: it does the modelling and execution on deals the industry coverage teams originate, rather than holding client relationships of its own.
IPOs, follow-ons, block trades, convertibles and structured equity. RBC says it has acted as joint bookrunner on 145+ IPOs and 200+ convertibles in North America since 2020.
Bond issuance, capital securities, liability management, private placements and commercial paper. RBC cites a #1 CAD bookrunner position for close to 30 years and a #9 USD bookrunner ranking.
Loan and high-yield capital markets, project finance advisory for energy, power, renewables and infrastructure developers, and RBC Capital Partners, which provides capital to mid-market companies and sponsors.
Sales, trading, structuring and financing across equities (cash, electronic, derivatives and structured products, Canadian prime brokerage), fixed income, currencies and commodities, plus asset-based finance and central funding; close to 2,000 professionals and access to 180+ trading venues. It is the larger revenue engine, at C$7.5B in fiscal 2025.
Lending to corporate and institutional clients, including revolvers, term loans, bridge and acquisition loans, letters of credit, margin loans and capital call financing, plus asset-based lending, Real Estate Capital Partners and transaction banking. About 600 professionals across lending, credit trading and transaction banking.
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From the inside
Reasons that work in interviews
5 reasons for RBC Capital Markets
Mining coverage means a real Vancouver bench, not a Toronto desk that covers the West: 100+ in mining and metals across both cities, 220+ in global energy.
Transaction banking was only combined with Commercial Banking into one Global Transaction Banking business in August 2026, so that side is being built rather than maintained.
The firm publishes a market-share target (IB above 2.75%, global markets above 2.5%, 14%+ ROE by 2027) rather than a growth ambition, so you know what the group is measured on.
Roughly half of Capital Markets revenue is American, so a Toronto seat still means cross-border work.
Thirteen coverage and product groups plus RBC Rundle and Capital Partners means you can move verticals without leaving the platform.
Unlock the full insights for RBC Capital Markets: every round, the topics tested and what candidates experienced
Each row is a start season; the bars are when you apply. The track starts this month, so how far right a bar sits is how far off it is.
Winter 2027
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Industry coverage 8
Own the client relationships in a sector and bring the mandates in.
Energy
Part of the Global Energy Group, an integrated investment and corporate banking team for oil & gas (E&P, midstream and energy infrastructure, oilfield services, refining & marketing); RBC lists Calgary and Toronto among its offices, and Calgary hires analysts, associates and engineering/geoscience summer analysts.
CalgaryToronto
Mining & Metals
Global team covering gold and precious metals, base metals, bulk commodities, fertilizers, diamonds and industrial minerals, royalty/streaming and mining services; Toronto and Vancouver are its Canadian centres, with recent VP and associate hires in both.
TorontoVancouver
Diversified (Consumer & Industrial Products)
Canadian generalist coverage team spanning consumer & retail, industrials, communications/media/entertainment, healthcare and business services (the Canadian counterpart to RBC's global Consumer & Retail, Industrial & Diversified, CME and Healthcare groups); led within Canada by the Head of the Canadian Consumer and Industrials group. Montreal postings describe a Diversified Coverage team there.
TorontoMontreal
Financial Institutions
Financial Institutions Group covering insurance, banks and lenders, asset & wealth managers, specialty finance and fintech.
Toronto
Technology
Technology Investment Banking Group (software, internet, tech-enabled services, infrastructure and cloud, fintech); Toronto is its only Canadian office alongside New York, San Francisco and London.
Toronto
Power, Utilities & Infrastructure
Covers regulated utilities, independent and renewable power, energy and midstream infrastructure, transportation assets and infrastructure/pension funds; Canadian hires are posted in Toronto.
Toronto
Real Estate
Described by RBC as the largest dedicated real estate corporate finance group in Canada, with Capital Markets & M&A, Property Brokerage, Debt Advisory and real estate corporate banking teams; it lists Toronto, Montreal, Calgary and Vancouver offices, and hires Property Brokerage summer analysts in Toronto.
TorontoMontrealCalgaryVancouver
Financial Sponsors
Coverage of private equity funds and investors; RBC leadership bios name Financial Sponsors as one of the Canadian corporate finance teams, but no public source ties the Canadian team to a city.
Product 5
Sit inside investment banking and work across the coverage teams rather than holding clients of their own. M&A is the one to understand: it does the modelling and execution on deals most coverage groups originate.
Mergers & Acquisitions
Canadian M&A product group under a Head of Canadian M&A (sell-side, buy-side, fairness opinions, spin-offs/restructurings, activism defence); the public team page does not state the office.
Equity Capital Markets
IPOs, follow-ons, equity-linked and structured equity; a Canadian ECM business exists (leadership bios cite ECM roles in Toronto and Calgary), but no current public source states where the Canadian team sits.
Debt Capital Markets
Investment-grade bonds, capital securities, liability management, private placements and commercial paper; RBC cites a #1 CAD bookrunner ranking for close to 30 years.
Toronto
Syndicated & Leveraged Finance
Canadian SLF team originating, structuring and executing leveraged loans, high yield and LBO financings, led by a Canadian Head of Syndicated and Leveraged Finance.
Toronto
Project Advisory & Finance
Project finance advisory and non-recourse debt arranging for energy (midstream, pipelines, LNG, CCUS, biofuels), power and renewables, digital infrastructure and P3 projects, working with coverage teams across North America.
Calgary
Other teams 2
RBC Rundle (Energy A&D)
Calgary-based oil & gas acquisitions & divestitures advisory boutique (acquired by RBC in 2009) with geology and engineering specialists, the Canadian counterpart of Houston-based RBC Richardson Barr.
Calgary
RBC Capital Partners
Junior capital (subordinated debt, mezzanine, minority equity) investor for Canadian and U.S. mid-market companies and sponsors, housed under Leveraged Finance; its listed team contacts have Toronto (416) numbers.
Toronto
CEO and Group Head, RBC Capital Markets & Co-Head, Global Transaction Banking
Executive / Group Executive
Leads RBC Capital Markets globally and sits on RBC's Group Executive. With the Capital Markets Operating Committee, he sets growth strategy for corporate and investment banking and global markets. He joined RBC in 1995, led the energy investment banking practice for several years and was Global Head of Investment Banking before his current role. He holds a BCom in finance from the University of Alberta and is a CFA charterholder.
Co-CEO, RBC Europe & Europe Head, Capital Markets; Global Head, Sales, Relationship Management & Structuring
Europe
Oversees RBC's European capital markets and wealth businesses and is also Global Head of Sales, Relationship Management & Structuring. She joined RBC in 2013 from Royal Bank of Scotland, where she led European financial institution sales. At RBC she has led European fixed income and currencies, global FX and Global Markets Europe. She has more than 30 years in capital markets and has held industry roles including seven years on the ISDA board.
Head, Global Markets APAC, RBC Capital Markets; Head, Asia, RBC Wealth Management; CEO, RBC Singapore Branch
Asia-Pacific
Leads Global Markets across Australia, Singapore and Japan, and RBC's wealth management business in Hong Kong and Singapore, with governance responsibility for RBC in Singapore. He joined RBC in 1998.
Deputy Chairman, Global Investment Banking
Global Investment Banking
Has been Deputy Chairman of Global Investment Banking since September 2018, after about three decades on Wall Street. His bio says he has advised on roughly $1 trillion of completed transactions. He holds degrees from Harvard, Oxford (as a Rhodes Scholar) and the University of Toronto law school.
Senior Vice President & Chief Financial Officer, RBC Capital Markets
Finance
Leads Capital Markets finance globally and sits on the Capital Markets and CFO Group operating committees. He was previously CFO of MUFG Americas, covering its Americas wholesale business. Before that he held senior roles at Citigroup, including CFO of the Global Corporate and Investment Bank.
CFO, RBC Asia-Pacific & COO, RBC Capital Markets Asia-Pacific
Asia-Pacific
Leads finance for RBC in Asia-Pacific and runs operations, regulatory obligations and business management for Capital Markets in the region; he chairs the Australia Diversity Council. He joined RBC in 2010 as head of finance and is a chartered accountant who previously worked at Price Waterhouse, Halifax plc, Banco Santander and Lloyds International.
Chief Operating Officer
COO Group
COO of RBC Capital Markets, responsible worldwide for operations, transformation and risk and control oversight. She spent more than 20 years at Citigroup in senior technology, operations and transformation roles, including head of Latin America operations and technology. Earlier she worked in client marketing at Lazard Frères Asset Management.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Oct 2026
Rob BrassHire
Managing Director, Head of Global Semiconductors & Electronics
Barclays → RBC Capital Markets
Announced August 4, 2026: hired from Barclays to lead semiconductors and electronics coverage within technology investment banking, reporting to Kirk Kaludis and based in San Francisco. His start was reported for late October 2026.
Sep 14, 2026
Caroline MulroneyAppointment
Vice Chair
Government of Ontario → Royal Bank of Canada (reporting to RBC Capital Markets head Derek Neldner)
Former Ontario cabinet minister appointed vice chair, reporting to Derek Neldner. She will connect clients across capital markets, commercial banking and wealth, and advise on government policy and regulation. Announced August 19, 2026.
Sep 1, 2026
Laurent Van HollemeerschHire
Global Head, Equity Structured Products Trading & Global Co-Head, Equity QIS Trading
Societe Generale → RBC Capital Markets
Joined in New York after more than 20 years at Societe Generale to run equity structured products trading and co-run equity quantitative investment solutions trading.
Apr 23, 2026
Kinjal Gandhi and Alex ChoiTeam build
Managing Directors, Industrials Investment Banking
Barclays (Gandhi); BMO (Choi) → RBC Capital Markets
Two industrials bankers hired as managing directors to expand advisory. Gandhi focuses on industrial technology and electrification; Choi covers capital goods and diversified industrials.
Jun 13, 2025
Neil ChawhanPromotion
Head, U.S. Insurance Investment Banking
— → RBC Capital Markets
Promoted to run U.S. insurance investment banking. He has been an RBC managing director since 2017, after Bank of America and Keefe, Bruyette & Woods.
Jun 13, 2025
Saurabh MongaPromotion
Co-Head, U.S. Specialty Finance
— → RBC Capital Markets
Named co-lead of U.S. specialty finance alongside Eric Steifman. He previously worked at Deutsche Bank and Bank of America.
Apr 22, 2025
Troy WagnerHire
Global Head, Private Capital Markets
JPMorgan Chase → RBC Capital Markets
Hired from JPMorgan after gardening leave to run private capital markets, reporting to Jim Wolfe. He succeeded Ricardo McKenzie, who left for Wells Fargo.
Feb 19, 2025
Timothy GeorgeHire
Vice Chairman, Consumer & Retail Investment Banking
Lazard → RBC Capital Markets
Hired in New York from Lazard to strengthen consumer and retail dealmaking. He is a Wall Street veteran of more than 40 years with earlier stints at Greenhill and Morgan Stanley.
Feb 19, 2025
Amit MelwaniHire
Managing Director, M&A (Consumer & Retail)
BMO Capital Markets → RBC Capital Markets
Joined from BMO as an M&A managing director working with the consumer and retail coverage team.
Feb 2025
James MasserioHire
Head, Global Equities
Société Générale → RBC Capital Markets
Joined from Société Générale to run Global Equities, according to his official RBC bio.
Aug 2024
Jackie NixonHire
Head, Canadian Equity Capital Markets
Goldman Sachs → RBC Capital Markets
Rejoined RBC from Goldman Sachs to lead domestic equity and equity-linked financings, reporting to the global ECM co-heads. Announced May 2024 with an August start.
May 13, 2024
Matthew R. StopnikPromotion
Global Head, Investment Banking
— → RBC Capital Markets
Named global head of investment banking in a reorganization that merged regional banking units into three global groups. Leadership framed the U.S. as RBC's second home market.
May 13, 2024
Trevor GardnerPromotion
Head, Global Investment Banking Coverage
— → RBC Capital Markets
Moved from leading Canadian investment banking to running global client coverage as part of the May 2024 reorganization.
May 13, 2024
Ben MandellPromotion
Head, Global Mergers & Acquisitions
— → RBC Capital Markets
Promoted from head of Canadian M&A to lead M&A globally in the May 2024 restructuring.
May 13, 2024
Vito SperdutoAppointment
U.S. Head, RBC Capital Markets U.S.
— → RBC Capital Markets
Appointed to lead the U.S. capital markets business as part of the 2024 reorganization.
May 2024
Jim WolfePromotion
Head, Global Investment Banking Capital Markets
— → RBC Capital Markets
Took over the new global capital markets group, covering leveraged lending and equity and debt offerings, after six years as co-head of U.S. investment banking.
Oct 7, 2026
Partners Value Split Corp.
Co-lead underwriter · Financial Services
Partners Value Split Corp. announced a $125 million bought deal public offering of Class AA Preferred Shares, Series 18. Currency not confirmed from the snippet (the previous Series 17 was denominated in US dollars).
Oct 7, 2026
The Boots Group
Financial advisor to Wittington · Retail & Pharmacy
Buyer Wittington Investments, Limited (with Fairfax Financial Holdings Ltd.) · Seller Sycamore Partners, in partnership with Stefano Pessina and family
Wittington Investments agreed to acquire the 1,800-store British pharmacy chain Boots from Sycamore Partners and the Pessina family for about US$8.9 billion including assumed debt, with Fairfax Financial partnering on the purchase and Wittington holding operational control. Expected to close in the first quarter of 2027.
Oct 6, 2026
SmartCentres Real Estate Investment Trust
Joint bookrunner · Real Estate
SmartCentres priced $300 million of new 4.795% Series AE senior unsecured debentures due 2032 and a $150 million re-opening of its 3.599% Series AC debentures due 2029.
Oct 1, 2026
Ontario Teachers' Cadillac Fairview Properties Trust C$900 million senior unsecured notes
Joint book-running manager · Real Estate
The Cadillac Fairview property trust made its inaugural Canadian-dollar bond issue under a new program: a C$900 million private placement split evenly between 4.394% notes due 2030 and 4.727% notes due 2033. Date is the completion date reported by counsel.
Sep 28, 2026
Slate Grocery REIT
Lead financial advisor to Brixmor and the purchaser · Real Estate
Buyer Brixmor Property Group Inc. and Everview Partners
Slate Grocery REIT agreed to be acquired by Brixmor and Everview Partners for US$13.00 per unit in cash by plan of arrangement, a US$2.3 billion transaction following a competitive auction run by a special committee.
Sep 28, 2026
Canadian Pacific Railway Company C$1.8 billion notes (guaranteed by CPKC)
Joint lead agent and joint active bookrunner · Transportation
CPKC's railway subsidiary offered C$1.8 billion of Canadian-dollar notes in four tranches maturing 2030 to 2056, mainly to refinance existing debt.
Sep 28, 2026
Apotex Health Corp. C$1.25 billion inaugural senior unsecured notes
Joint bookrunner · Healthcare / Pharmaceuticals
Apotex priced its first bond deal, C$1.25 billion of senior unsecured notes in three series due 2029, 2031 and 2033, to refinance existing debt.
Sep 23, 2026
Royal Bank of Canada C$1.5 billion NVCC subordinated debentures due 2036
Lead agent · Financial Services
RBC announced C$1.5 billion of 4.67% NVCC subordinated debentures due 2036 (callable 2031) under its Canadian medium term note program, with its own dealer leading the issue.
Sep 23, 2026
Open Text Corporation US$1 billion senior secured notes and tender offer for 3.875% senior notes due 2028
Dealer manager for the tender offer · Technology
OpenText refinanced by selling US$1 billion of Rule 144A senior secured notes (6.700% due 2031 and 7.150% due 2033) to redeem its 2027 notes and fund a cash tender offer, later capped at US$300 million, for its 2028 notes. Only the tender offer dealer managers were named.
Sep 22, 2026
Topaz Energy Corp. (bought deal secondary offering of common shares)
Underwriter · Oil & Gas / Royalties and Infrastructure
Seller Tourmaline Oil Corp.
Tourmaline agreed to sell 10 million Topaz common shares at C$28.75 to underwriters on a bought deal basis for about C$287.5 million, cutting its stake from about 12.9% to 6.4%, and said it would redeploy proceeds into share repurchases.
Sep 22, 2026
Royal Bank of Canada
Lead agent · Banking
RBC issued $1.1 billion of NVCC Additional Tier 1 Limited Recourse Capital Notes, Series 9, at 6.275% for the first five years.
Sep 15, 2026
Sagen MI Canada Inc.
Agent · Insurance
Mortgage insurer Sagen MI Canada issued $300 million of 4.947% unsecured debentures due 2033 by private placement, largely to refinance its 2.955% debentures due 2027.
Sep 15, 2026
Dream Summit Industrial LP
Lead agent · Real Estate
Dream Summit Industrial LP priced a C$300 million private placement of 4.432% Series J senior unsecured debentures due March 2030, to repay debt and fund acquisitions.
Sep 14, 2026
Alaris Equity Partners Income Trust (bought deal offering of trust units)
Syndicate member (underwriter) · Financial Services / Private Capital
Alaris announced a C$100 million bought deal of trust units at C$22.40 alongside a US$95 million investment in new partner Nexus; with the over-allotment option exercised in full the offering closed at about C$115 million, with proceeds used to repay credit facility debt.
Sep 14, 2026
Primaris Real Estate Investment Trust (bought deal offering of trust units)
Joint bookrunner · Real Estate / Retail REIT
Primaris REIT sold Series A trust units at C$20.20 in a C$200 million bought deal to fund future shopping-centre acquisitions; with the over-allotment option exercised in full, 11.4 million units were issued for about C$230 million.
Sep 14, 2026
Choice Properties REIT C$300 million Series Y senior unsecured debentures
Co-lead agent · Real Estate
Choice Properties agreed to issue C$300 million of 4.836% Series Y debentures due 2033 on a private placement agency basis to refinance its Series Q debentures maturing in November 2026.
Sep 9, 2026
CGI Inc.
Lead agent · Technology
CGI priced a C$500 million private placement of senior unsecured notes in two C$250 million series (3.25-year and 4.75-year) to repay debt and for general corporate purposes.
Sep 9, 2026
Rogers Communications Inc. US$1 billion and C$600 million fixed-to-fixed rate subordinated notes due 2057
Co-manager (US notes); co-lead joint bookrunner (Canadian private placement) · Telecommunications
Rogers priced US$1 billion of hybrid subordinated notes in two series (7.150% and 7.400%, due 2057) in the US and a concurrent C$600 million 6.000% Canadian private placement, using proceeds to redeem or repurchase its 2081 and 2082 subordinated notes.
Sep 9, 2026
Fortis Inc. US$1 billion fixed-to-fixed rate junior subordinated notes due 2057
Underwriter (co-manager) · Utilities
Fortis priced two US$500 million tranches of hybrid junior subordinated notes (6.625% and 6.875%, both due 2057) to repay maturing debt and for general corporate purposes.
Sep 8, 2026
Fairstone Bank of Canada
Co-manager · Financial Services
Fairstone Bank closed a $500 million offering of 4.310% three-year senior unsecured deposit notes, upsized from a $400 million minimum after about $1.7 billion of orders.
Sep 8, 2026
Headwater Exploration Inc.
Strategic advisor to Tamarack · Oil & Gas
Buyer Tamarack Valley Energy Ltd.
Tamarack Valley and Headwater agreed to merge in an all-stock transaction valued at $10 billion, creating a Clearwater-focused oil producer and spinning out a new exploration company.
Sep 1, 2026
Inovatec Systems Corporation
Exclusive financial advisor to Solifi · Financial Software
Buyer Solifi
Solifi acquired Vancouver lending technology provider Inovatec to extend its secured finance platform into retail automotive and specialty finance.
Aug 26, 2026
Salt Creek Midstream crude oil gathering business
Financial advisor to Enbridge · Midstream / Pipelines
Buyer Enbridge Inc. · Seller Salt Creek Midstream
Enbridge agreed to acquire Salt Creek Midstream's Delaware Basin crude gathering systems for US$600 million in cash.
Aug 10, 2026
Moneris Solutions Corporation
Financial advisor to Moneris' shareholders · Payments
Buyer Francisco Partners · Seller BMO Financial Group and Royal Bank of Canada
BMO and RBC agreed to sell their jointly owned payments processor Moneris to Francisco Partners for about $2.0 billion in cash.
Aug 1, 2026
FireBird Energy II
Financial advisor (client side not specified on RBC's listing) · Energy (Permian Basin upstream)
Buyer Continental Resources
Continental Resources' acquisition of FireBird Energy II, which grows its Permian Basin position. The value was not disclosed.
The former Ontario cabinet minister's appointment as vice chair, reporting to Derek Neldner, took effect.
RBC posted 16-month 2027 co-op roles in Toronto Global Equities (quantitative trading analyst, AI engineer, algorithmic trading developer), with application deadlines in early October 2026.
Laurent Van Hollemeersch joins in New York from Societe Generale to lead equity structured products trading and co-lead equity QIS trading.
RBC posted 10-week 2027 Global Investment Banking Summer Associate roles for New York, Houston and San Francisco. The New York posting lists a December 2026 application deadline.
Capital markets earned about C$1.54B in fiscal Q3 2026, above analyst forecasts of about C$1.45B, helped by underwriting and M&A. The piece notes about 70% of capital markets revenue now comes from outside Canada, roughly half from the U.S.
Mulroney joins from September 14, reports to capital markets head Derek Neldner, and will connect clients across RBC businesses and advise on public policy.
The Globe ties the hire to RBC's expansion in the U.S. and Europe and notes her earlier investment banking and legal career.
Rob Brass, formerly Barclays' global head of applied technology banking, will lead RBC's semiconductors and electronics coverage from San Francisco.
RBC acted as financial advisor to TopBuild on its acquisition by QXO.
RBC lists itself as a joint bookrunner on SpaceX's initial public offering, which raised about $85.7 billion in gross proceeds.
Two managing directors, from Barclays and BMO, join to cover industrial technology and electrification, and capital goods and diversified industrials.
Capital markets (C$1.43B) and wealth management drove record fourth-quarter profit. RBC raised its dividend and its ROE target, while the CEO flagged a K-shaped economy.
RBC raised its profitability target alongside a sharp rise in fourth-quarter 2025 earnings.
Fourth-quarter 2025 results beat expectations on capital markets and wealth. Fixed income trading, especially rates and municipals, was strong.
RBC was financial advisor to MEG Energy on Cenovus's roughly C$8.8 billion acquisition.
RBC acted as financial advisor to Sunoco LP on its acquisition of Parkland Corporation.
Neil Chawhan was promoted to head U.S. insurance investment banking and Saurabh Monga to co-lead U.S. specialty finance.
Neil Chawhan was promoted to head U.S. insurance investment banking, and Saurabh Monga to co-lead U.S. specialty finance.
Troy Wagner joins as global head of private capital markets, reporting to Jim Wolfe and replacing Ricardo McKenzie, who left for Wells Fargo.
Timothy George (from Lazard) and Amit Melwani (from BMO) join RBC's U.S. consumer and retail investment banking effort.
Hired from Société Générale, where he led Global Markets Americas.
The Logic reported that RBC had laid off about 30 executives since September 2024 after the HSBC Canada deal. Capital markets was among the areas named, and more junior cuts were expected in early 2025.
RBC recruited Goldman Sachs MD Jackie Nixon to run its Canadian equity capital markets business from August 2024.
RBC named Matthew Stopnik global head of investment banking and created global coverage (Trevor Gardner), global M&A (Ben Mandell) and global capital markets (Jim Wolfe) groups. Vito Sperduto took over the U.S. business. Management cited a goal of lifting IB market share toward 3%.
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Tourmaline Oil Corp. and Topaz Energy Corp. (CNW) · Oct 8, 2026 · newswire.ca
Partners Value Split Corp. via GlobeNewswire · Oct 7, 2026 · globenewswire.com
Wittington Investments, Limited (CNW) · Oct 7, 2026 · newswire.ca
SmartCentres Real Estate Investment Trust · Oct 6, 2026 · smartcentres.com
Apotex Health Corp. (CNW) · Oct 5, 2026 · newswire.ca
RBC Careers · Oct 1, 2026 · jobs.rbc.com
Slate Grocery REIT via Business Wire (republished on BNN Bloomberg press releases) · Sep 28, 2026 · bnnbloomberg.ca
Brixmor Property Group (Form 8-K exhibit 99.1, sec.gov) · Sep 28, 2026 · sec.gov
Canadian Pacific Kansas City Limited via SEC (Form 8-K, Exhibit 99.1) · Sep 28, 2026 · sec.gov
CPKC (CNW) · Sep 28, 2026 · newswire.ca
Apotex Health Corp. (CNW) · Sep 28, 2026 · newswire.ca
Royal Bank of Canada via CNW (republished by Cantech Letter newswires) · Sep 23, 2026 · cantechletter.com
Royal Bank of Canada (CNW) · Sep 23, 2026 · newswire.ca
Open Text Corporation via PR Newswire (republished by Finviz) · Sep 23, 2026 · finviz.com
Open Text Corporation via SEC (Form 8-K, Exhibit 99.1) · Sep 23, 2026 · sec.gov
Tourmaline Oil Corp. and Topaz Energy Corp. (CNW) · Sep 22, 2026 · newswire.ca
Sagen MI Canada Inc. (CNW) · Sep 22, 2026 · newswire.ca
Royal Bank of Canada (CNW) · Sep 22, 2026 · newswire.ca
Sagen MI Canada Inc. (CNW) · Sep 15, 2026 · newswire.ca
Dream Summit Industrial LP (CNW) · Sep 15, 2026 · newswire.ca
RBC Careers · Sep 14, 2026 · jobs.rbc.com
Alaris Equity Partners Income Trust (GlobeNewswire) (search snippet) · Sep 14, 2026 · globenewswire.com
Primaris Real Estate Investment Trust (GlobeNewswire) (search snippet) · Sep 14, 2026 · globenewswire.com
Choice Properties REIT via Business Wire (republished by BNN Bloomberg) · Sep 14, 2026 · bnnbloomberg.ca
CGI Inc. (CNW) · Sep 9, 2026 · newswire.ca
Rogers Communications Inc. via SEC (Form 6-K, Exhibit 99.1) · Sep 9, 2026 · sec.gov
Rogers Communications Inc. via SEC (Form 6-K, underwriting agreement) · Sep 9, 2026 · sec.gov
Fortis Inc. (news releases) · Sep 9, 2026 · fortisinc.com
Fairstone Bank of Canada (CNW) · Sep 8, 2026 · newswire.ca
Tamarack Valley Energy Ltd. via CNW · Sep 8, 2026 · newswire.ca
Solifi via CNW · Sep 1, 2026 · newswire.ca
RBC Careers · Aug 28, 2026 · jobs.rbc.com
Royal Bank of Canada · Aug 27, 2026 · rbc.com
Enbridge Inc. via CNW · Aug 26, 2026 · newswire.ca
Royal Bank of Canada (PR Newswire) · Aug 25, 2026 · prnewswire.com
BMO Financial Group via CNW · Aug 10, 2026 · newswire.ca
Royal Bank of Canada (Cision Newswire) · Dec 3, 2025 · newswire.ca
Royal Bank of Canada · Dec 3, 2025 · rbc.com
Royal Bank of Canada · Dec 3, 2025 · rbc.com
Royal Bank of Canada (Cision Newswire) · Mar 28, 2024 · newswire.ca
RBC Capital Markets · Dec 1, 2023 · rbccm.com
Royal Bank of Canada (Cision Newswire) · Aug 21, 2019 · newswire.ca
RBC Capital Markets · Date unavailable · rbccm.com
RBC · Date unavailable · rbc.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Careers · Date unavailable · jobs.rbc.com
RBC Careers · Date unavailable · jobs.rbc.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
RBC Capital Markets · Date unavailable · rbccm.com
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RBC Careers (jobs.rbc.com) · Date unavailable · jobs.rbc.com
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Royal Bank of Canada (via Newswire) · Date unavailable · newswire.ca
Alaris Equity Partners Income Trust via BNN Bloomberg (press release, GlobeNewswire) · Sep 28, 2026 · bnnbloomberg.ca
McCarthy Tétrault LLP · Sep 23, 2026 · mccarthy.ca
McCarthy Tétrault LLP · Sep 23, 2026 · mccarthy.ca
Primaris Real Estate Investment Trust via Morningstar (Business Wire release) · Sep 22, 2026 · morningstar.com
The TRADE · Sep 1, 2026 · thetradenews.com
Bloomberg (via Canadian Mortgage Trends) · Aug 27, 2026 · canadianmortgagetrends.com
The Canadian Press (via Yahoo Finance) · Aug 19, 2026 · ca.finance.yahoo.com
The Globe and Mail · Aug 19, 2026 · theglobeandmail.com
Bloomberg · Aug 4, 2026 · bloomberg.com
Bloomberg · Apr 23, 2026 · bloomberg.com
BNN Bloomberg (The Canadian Press) · Dec 3, 2025 · bnnbloomberg.ca
The Globe and Mail · Dec 3, 2025 · theglobeandmail.com
Bloomberg · Dec 3, 2025 · bloomberg.com
Investment Executive · Oct 3, 2025 · investmentexecutive.com
Euromoney · Jul 18, 2025 · euromoney.com
Private Banker International · Jun 13, 2025 · privatebankerinternational.com
BNN Bloomberg · Apr 22, 2025 · bnnbloomberg.ca
Bloomberg (Bloomberg Tax) · Feb 19, 2025 · news.bloombergtax.com
The Logic · Dec 19, 2024 · thelogic.co
Euromoney · Jul 19, 2024 · euromoney.com
The Globe and Mail · May 14, 2024 · theglobeandmail.com
Banking Dive · May 13, 2024 · bankingdive.com
The Globe and Mail · May 13, 2024 · theglobeandmail.com
Blind (teamblind.com) · Mar 23, 2023 · teamblind.com
Blind (teamblind.com) · Jan 21, 2023 · teamblind.com
Blind (teamblind.com) · Date unavailable · teamblind.com
Blind (teamblind.com) · Date unavailable · teamblind.com
Blind (teamblind.com) · Date unavailable · teamblind.com
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Cash management and working-capital services. RBC Clear is the U.S. offering; U.S. transaction banking deposits reached about US$23B in 2025, against a medium-term target of about US$50B.
Equity and macro research (RBC Global Research), led within Global Markets by the Global Head of Cash Equities and Research; RBC Economics sits under the Chief Strategy & Innovation Officer. RBC cites a Euromoney 2025 best research bank in North America award.
Listed by RBC as its own area of expertise, with U.S. municipal fixed income also covered within Global Markets. Higher municipal bond trading helped Q4 2025 results.
Sustainable finance advisory and solutions for corporate and institutional clients, run under the Chief Strategy & Innovation Officer.
Interview prep
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Fall 2027
Apply from May 2027
Posting open May to Jun; Interviews Jun to Jul; Offers Jul to Aug.Summer 2028
Apply from Feb 2027
Posting open Feb to Apr; Interviews May; Offers Jun.Programs
Summer Analyst · Toronto; Calgary
RBC does run a Canadian investment banking summer analyst seat, four months, in Toronto and Calgary — separate from the Global Markets Program and from the US postings that dominate a search for the name.
Co-op · Toronto (Royal Bank Plaza, 200 Bay St)
Sixteen-month co-op terms on the Global Equities floor, which RBC calls Canada's largest trading floor, as quantitative trading analysts, AI engineers and algorithmic trading developers. Teams include electronic market making, algo, ETF, structured products, delta one and options flow trading. Targets students in quantitative fields; the quant trading posting discloses an expected pay range (figure shown begins at $60,000).
Summer Analyst · Toronto, Montréal, Calgary, Vancouver
The summer feeder into the full-time Global Markets Program. Placement is into one of the participating businesses — Macro, Spread, Global Equities, Global Research or Debt Capital Markets — and strong performers are considered for the full-time programme. For students graduating in the December or Spring following the placement.
Co-op · Canada (office varies by posting)
RBC runs co-op placements of four to sixteen months across Capital Markets for the Fall, Winter and Summer terms. RBC says it hires roughly 1,600 co-ops and summer interns a year across the enterprise in Canada; the capital markets share of that is not published, and individual placements are posted business by business.
Summer Analyst · Canada (office varies by posting)
Fourteen to sixteen weeks, for students in the penultimate year of their studies. RBC lists Fixed Income Origination and Corporate Banking & Global Credit among the capital markets businesses that run summer analyst intakes alongside Global Markets.
Full-time Analyst · Canada (office varies by business)
The full-time graduate intake across Capital Markets, with structured training and rotation into a business line. RBC's careers site names Global Markets and Global Investment Banking as the main tracks but does not publish a Canadian timetable; the summer programmes are the main feeder.
Typical background
GuidanceA boutique bank, accounting or transaction services, asset management, or a pension.
Global bulge brackets and elite boutiques
Global banks
Big Six banks
RBC Capital Markets is hereRising boutiques and mid-market independents
Boutiques, small-cap dealers and deal advisory
Where people go next
GuidanceGlobal Head, Quantitative and Technology Services (line-of-business CIO)
Global Markets / Technology
Runs Quantitative and Technology Services and acts as line-of-business CIO for RBC Capital Markets, covering its software applications and quantitative analytics. He joined RBC in 2010 as global head of commodities technology after senior roles at Barclays Capital and Credit Suisse.
Chief Strategy & Innovation Officer
Strategy, Sustainability & Economics
Leads strategy, marketing, AI and digital innovation, sustainability, the Sustainable Finance Group and RBC Economics for the capital markets business, and sits on the Operating Committee. She started in investment banking at RBC in Toronto and later spent about ten years in equity markets roles at a London-based global bank. She holds a Wharton MBA and a Bishop's University BBA and is a CFA charterholder.
Executive Vice President, Commercial & Wholesale Credit Risk (Chief Risk Officer, RBC Capital Markets)
Risk
Leads global oversight of wholesale credit risk originated by RBC Capital Markets, Commercial Banking and City National Bank within Group Risk Management, and acts as Chief Risk Officer for RBC Capital Markets. He joined RBC in 2005 and previously ran market and counterparty credit risk globally and enterprise risk. He holds a Schulich MBA.
Global Head, Investment Banking
Global Investment Banking
Runs RBC's global investment banking business and covers major private equity firms. He joined RBC in 2015 as co-head of Financial Sponsors and became co-head of U.S. Investment Banking in 2018, where he pushed the U.S. growth strategy. He took the global role in the May 2024 reorganization. Before RBC he spent about 20 years at UBS Investment Bank, latterly as U.S. Head of Financial Sponsors.
Global Head, Macro Products
Global Markets
Responsible for RBC's rates, commodities, foreign exchange and futures businesses since 2021. He started in RBC's Global Markets training program in Toronto, spent five years in London, became a managing director in 2006 and headed Canadian and then global rates from 2017. He co-chairs the Canadian Fixed Income Forum and is a CFA charterholder.
Global Head, Cash Equities and Research
Global Markets
Responsible for delivering RBC's global equity products and research to institutional clients. He has been at RBC since 1995, in corporate finance and the institutional equity group. He holds a Queen's economics degree and an Ivey MBA.
Global Head, Capital Markets Treasury
Global Markets
Manages RBC's short-term funding and liquidity needs, the Capital Markets liquidity asset portfolio and derivative XVAs, and sits on the Global Markets and Enterprise Corporate Treasury operating committees. He joined RBC in 2004 and took the treasury role in 2023. He holds a UBC master's in mathematics and is a CFA charterholder.
Head, Global Markets
Global Markets
Leads Global Markets, close to 2,000 people across sales and relationship management, digital solutions and client insights, central funding, equities, spread and macro businesses, and has sat on the Capital Markets Operating Committee since 2008. He joined RBC's Dealer Trainee Program in 1991 and has spent his whole career at RBC, including global leadership of liquid products, fixed income and currencies, and FICC (2011–2020) before taking his current role in November 2020. He holds a Queen's University BCom and is a CFA charterholder.
Head, Global Investment Banking Coverage
Global Investment Banking
Runs global investment banking coverage and sits on the Capital Markets Operating Committee. He has spent more than 25 years at RBC in investment banking and equity capital markets roles in Toronto and Calgary. Before the May 2024 reorganization he led Canadian Investment Banking, and earlier he co-led Canadian energy investment banking. He holds a BBA from Wilfrid Laurier University and is a CFA charterholder.
Head, Global Investment Banking Capital Markets
Global Investment Banking
Since May 2024 he has overseen RBC's debt and equity financing products in public and private markets. He joined RBC in 2008 from Bear Stearns, where he spent 15 years and was a senior managing director in leveraged finance. At RBC he ran U.S. and European leveraged finance (2008–2018), then co-headed U.S. Investment Banking (2018–2024). He holds a BS in accounting from USC and a Wharton MBA.
Head, Global Mergers & Acquisitions
Global Investment Banking
Leads RBC's global M&A practice and has spent more than ten years in RBC's M&A group. He was head of Canadian M&A before taking the global role in the May 2024 reorganization. Earlier he worked at an independent advisory firm in Toronto, in Goldman Sachs' Investment Management Division in New York and Toronto, and as a Monitor Group consultant in London. He holds a Queen's economics degree, a Harvard MBA and the CFA designation.
U.S. Head, RBC Capital Markets U.S.
U.S. Region
Leads RBC Capital Markets' U.S. business and sits on the global Capital Markets Operating Committee. An investment banker for more than 30 years, he says he has advised on about 200 deals worth over $250 billion, and he was previously RBC's Global Head of M&A. Earlier he was head of software M&A at CIBC World Markets and worked at SoundView Technology Group, Smith Barney and Kidder Peabody. He holds an AB from Harvard.
Head, Investment Banking, Europe and APAC
Global Investment Banking
Since November 2022 he has led RBC's investment banking sector, product and country teams across Europe and Asia-Pacific. He trained as a chartered accountant at Ernst & Young, worked at Deutsche Bank and Rothschild, and joined RBC in Australia in 2006 to lead infrastructure, transport and utilities. He later headed Asia-Pacific investment banking (2012), was Australia chief country officer (2015), and became European sector coverage head (2018).
Head, Global Corporate Banking
Global Corporate Banking
Leads Global Corporate Banking, about 600 people across lending, credit trading and transaction banking. She chairs the committees that approve the firm's global lending decisions and co-founded the RWomen internal forum. She holds a Rotman MBA and a BCom (Honours) from Queen's University.
Head, AI and Digital Innovation
AI & Digital Innovation
Owns the firm's end-to-end AI and digital innovation strategy. He joined RBC as an energy trader in 1996, later helped electronify the Global Markets franchise, and played a key role launching the Aiden algorithmic trading platform with RBC Borealis. He sits on the Capital Markets Operating Committee.
Head, Central Funding
Global Markets
Heads the Central Funding Group, a global secured financing business, and chairs the RBC (Barbados) Trading Bank Corporation and RBC CMA LLC subsidiaries; he sits on the Capital Markets Operating Committee. He joined RBC in New York in 1999, co-founded the CFG business in London and built the Caribbean platform from the Bahamas. He holds a Princeton MS in operations research.
Head, Global Equities
Global Markets
Runs Global Equities and sits on the Global Markets Operating Committee. He joined RBC in February 2025 from Société Générale, where he led Global Markets Americas and earlier co-headed Equities Americas. He spent his first 16 years at Credit Suisse, rising to head of equity derivatives in the Americas. He holds a Wharton BSc.
Head, Global Spread Products
Global Markets
Leads Global Spread Products and sits on the Global Markets and U.S. regional operating committees. He joined RBC in 2007 to run the municipal products group and co-headed Global Spread Products from 2018 to 2022. He was previously a fixed income managing director at UBS and is a GFMA board member.
Deputy Head, Global Corporate Banking
Global Corporate Banking
Deputy head of Global Corporate Banking; he also leads client coverage teams in Toronto, Montreal and Vancouver and sits on the loan Commitments Committee. He joined RBC in 2009 after 13 years at CIBC World Markets and earlier work for Credit Suisse in Europe. He holds a Queen's MBA and is a CFA charterholder.
U.S. Head, Corporate Banking
Global Corporate Banking
Heads U.S. corporate banking, covering relationship management and execution across industrials, consumer, healthcare, municipals, FIG, media, telecom and technology; asset-based lending reports to him. He joined RBC in 2013 after investment banking at Barclays and Lehman Brothers and accounting at Ernst & Young. He holds a Berkeley MBA.
Senior Vice President, Human Resources
Human Resources
Leads talent strategy for RBC Capital Markets globally and sits on the Capital Markets and Human Resources operating committees. She joined RBC HR in 2013 and led HR for the Canadian personal and commercial banking network, talent management, and the Wealth Management and Insurance businesses. Earlier she ran change management practices at CGI and Rogers. She holds a PhD in management from HEC Montréal.