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The Royal Bank of Canada has made a series of transactions that should boost the profitability of its struggling U.S. subsidiary. Debt securities that had been owned by City National have lost value as a result of rising long-term bond yields.
Royal Bank of Canada on Friday said it had injected capital into City National to strengthen the Los Angeles-based subsidiary's liquidity position and pay down higher-cost borrowing. ...
Banking news
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Greg Carmichael, former CEO of U.S. regional lender Fifth Third Bancorp., joins RBC in October
TORONTO, Sept. 14, 2023 /PRNewswire/ - RBC today announced the appointment of Greg Carmichael as executive chair of the board of directors of City...