Chief executive Dave McKay sees a major opportunity in the U.S. next year, fuelled by an increase in investment and loan growth in the U.S., he said at the bank’s investor day Tuesday. McKay said lowering interest rates—albeit slower in the U.S. than Canada—are bringing “more confidence” in corporate activity like M&A. (The Logic)
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Chief executive Dave McKay sees a major opportunity in the U.S. next year, fuelled by an increase in investment and loan growth in the U.S., he said at the bank’s investor day Tuesday. McKay said lowering interest rates—albeit slower in the U.S. than Canada—are bringing “more confidence” in corporate activity like M&A. (The Logic)
Talking point: RBC’s completion of its acquisition of HSBC Canada will also move it away from playing defense, McKay said, with the bank’s sales force increasing by around 10 per cent due to the merger. During the two-year acquisition process, HSBC’s sales force struggled to attract new customers because of the switch, McKay said. The bank is also reshuffling its workforce. It has laid off at least 30 executives since September and plans to cut junior employees early this year.
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