Investment banking: RBC plots expansion drive in Europe
Canadian bank to hire slew of new managing directors; focus will be on ECM and M&A in Europe.
RBC Capital Markets aims to add a new player to the increasingly competitive equity and M&A sectors in Europe as it undertakes a hiring spree over the next few months.
The Canadian bank is set to hire more than 50 bankers at managing director or director level across the two businesses in its London office as it seeks to take advantage of the relative strength of its parent bank.
Royal Bank of Canada has been one of the best performing banks since the credit crisis. It is the 13th biggest bank in the world by market capitalization.
It is also one of handful still to hold a triple-A rating. It is also one of the most stable banks, returning healthy profits and return on equity throughout the past three years.
"We’re the new kids on the block. We have a very powerful brand and strong parent behind us. I genuinely believe this is a unique opportunity"
Josh Critchley, RBC
The build-out will be overseen by managing director Josh Critchley, head of European ECM and corporate broking, who joined RBC in September last year from Goldman Sachs.