RBC reshapes markets unit into three cross-product groups

The reorganization is a departure from a banks’ traditional method of organizing their markets business by product types. RBC also is looking to build on a run of strong quarterly results for the 2,000-person business, which has benefited from increased trading activity with the COVID-19 pandemic roiling markets.

Royal Bank shares rose 0.8 per cent to $117.33 at 10:35 a.m. in Toronto. The stock is up 12.2 per cent this year, compared with a 15.5 per cent gain for the S&P/TSX Commercial Banks Index. The macro group — to be headed up by Jim Byrd, who’s based in Canada — will house the rates, foreign-exchange, commodities and futures businesses.

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