RBC CEO and Chairman Appointed

Royal Bank of Canada (RY on the TSX and NYSE) today announced leadership changes at RBC Capital Markets.

Doug McGregor has been appointed chairman & co-CEO of RBC Capital Markets; and Mark Standish has been appointed president & co-CEO of RBC Capital Markets. McGregor and Standish will join RBC's Group Executive as co-group heads, Capital Markets.

These appointments are effective November 1, 2008, in conjunction with the retirement of Charles (Chuck) Winograd as chairman and CEO of RBC Capital Markets. Chuck will remain with the bank to facilitate transition into January 2009.

As chairman & co-CEO, McGregor will assume specific responsibility for driving client relationships, and managing the firm's investment banking, equity agency trading and credit businesses. He will continue to be based in Toronto. As president & co-CEO, Standish will have responsibility for the firm's sales and trading activities, financing, as well as oversight and management of the firm's balance sheet. He will continue to be based in New York.

"These appointments are recognition of Doug and Mark's success in driving our steady growth as a global wholesale bank," said Gordon M. Nixon, president and chief executive officer of RBC. "Under their joint leadership, RBC Capital Markets will continue to execute its long-term strategy and further strengthen its position as a premier investment bank around the world."
McGregor and Standish were appointed co-presidents of RBC Capital Markets in February 2007. McGregor, as co-president, led the firm's global investment banking business and was responsible for RBC Capital Markets' global activities in corporate finance, mergers and acquisitions, and equity sales and trading. He also headed the North American real estate brokerage, financing, capital markets and advisory business. McGregor began his investment banking career in 1979 and joined RBC DS as a managing director in 1990 through the acquisition of Marcil Trust.