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RBC’s Trading Business Has ‘Big Opportunity’ to Expand, CEO Says

Interest Rates May Drag On Canadian Banks As RBC Cuts Targets
Photographer: Christinne Muschi/Bloomberg

Royal Bank of Canada’s trading business has “a big opportunity” to take more market share, Chief Executive Officer Dave McKay said.

RBC Capital Markets, which is heavily focused on the US, currently ranks 15th in trading, and “there’s no reason” the operation couldn’t rise to No. 10, McKay said at a Bank of Nova Scotia financial-industry conference Wednesday.