RBC Merges Transaction Banking Units into Global Business

Sean Amato-Gauci, Group Head of Commercial Banking, and Derek Neldner, CEO of RBC Capital Markets, will co-lead the new business unit. Their mandate focuses on aligning relationship management with technology and execution to provide a more cohesive experience for clients navigating global trade. While the strategy unifies operations, the bank confirmed that financial reporting will remain unchanged within existing business segments.

To support the new structure, Kartik Kaushik has been appointed Head of Product, Platforms and Solutions, while Michael Klopchic takes the role of Head of Client Coverage. Both will report to the co-heads. The division will leverage existing digital platforms such as RBC Clear in the U.S. and RBC Edge in Canada to manage liquidity, foreign exchange, and trade finance. With the largest wholesale deposit portfolio in Canada, RBC intends to utilize this combined franchise to secure new deposits and expand its footprint in increasingly complex international markets.