Royal Bank of Canada unifies global transaction banking business

By Puja Sharma

New co-leadership unifies RBC’s transaction banking capabilities across the bank to serve clients seamlessly across borders

Royal Bank of Canada (RBC) announced the formal establishment of Global Transaction Banking (GTB) as a unified global business, advancing RBC’s role as a globally connected bank providing trusted expertise to help clients grow across borders. RBC’s ambition is to build a leading global transaction banking franchise based on deep relationships, best-in-class capabilities, global scale and a leading digital experience.

GTB will be jointly led by Sean Amato-Gauci, Group Head, Commercial Banking and Co-Head, Global Transaction Banking, and Derek Neldner, CEO and Group Head, RBC Capital Markets and Co-Head, Global Transaction Banking. Together, they are accountable for establishing RBC as a global transaction banking leader across all client segments.

The combined business brings together RBC’s transaction banking capabilities across Commercial Banking in Canada and the U.S.  and Capital Markets, under shared leadership and a single strategy—connecting relationship coverage, product expertise, technology and execution to deliver greater value for clients. Given this business will support transaction banking services across RBC, this new structure will not change the bank’s financial reporting, and results will continue to be reported within existing business segments.

Kartik Kaushik has been appointed Head, Global Transaction Banking — Product, Platforms and Solutions, and Michael Klopchic has been appointed Head, Global Transaction Banking — Client Coverage, each will report jointly to Sean and Derek. Kartik will lead product strategy, innovation and platform delivery, while Michael will lead client coverage, sales execution and go-to-market strategy.

GTB’s growing suite of capabilities includes RBC Clear, a digital cash management platform in the U.S., and RBC Edge, a digital cash management platform in Canada. Together, these platforms serve an expanding base of domestic and global clients across their working capital lifecycle needs. GTB also brings leading expertise across foreign exchange, payments, trade finance and liquidity management. GTB is central to RBC’s ambition to generate new deposits that will fund the bank’s next phase of growth.

“Being more globally connected isn’t just about where we operate; it’s about how we bring the full strength of RBC to our clients,” said Dave McKay, President and Chief Executive Officer of RBC. “For businesses navigating a more complex economy, that means being a trusted partner who understands both local nuances and the global picture — helping them move money, manage liquidity and risk, and operate seamlessly on an international basis.