RBC CEO Gordon Nixon Says His Retirement From Bank Not Imminent

Royal Bank of Canada (RY) Chief Executive Officer Gordon Nixon said he doesn’t plan to be the head of Canada’s biggest bank into his mid 60s, though his retirement isn’t “imminent.”

“I’ve been 12 years in this role and at some point I think it’s appropriate to turn it over and move on,” Nixon said today at the RBC Capital Markets Canadian bank CEO conference in Toronto. “But I’m only 55 and hopefully have some runway left.”

Nixon, who became head of the Toronto-based bank in 2001, said there would be an appropriate time to transition to a new CEO and a “natural time” for succession.

“It certainly won’t be into my mid 60s, I can assure you on that front, but it’s not imminent either,” Nixon said.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; David Scanlan at dscanlan@bloomberg.net

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