Doug McGregor was appointed chairman and co-CEO of RBC Capital Markets, corporate and investment banking arm of Royal Bank of Canada, while Mark Standish has been appointed president and co-CEO of the firm.
McGregor and Standish will join RBC's group executive as co-group heads, capital markets. These appointments are effective Nov.1 in connection with the retirement of Charles Winograd as chairman and CEO.
Winograd will remain with the bank to facilitate transition into January 2009.
As chairman & co-CEO, McGregor, who will continue to be based in Toronto, will assume specific responsibility for driving client relationships as well as managing the firm's investment banking, equity agency trading and credit businesses.
As president & co-CEO, Standish will have responsibility for the firm's sales and trading activities, financing, as well as oversight and management of the firm's balance sheet. He will continue to be based in New York.
McGregor and Standish were appointed co-presidents of RBC Capital Markets in February 2007. McGregor, as co-president, led the firm's global investment banking business and was responsible for RBC Capital Markets' global activities in corporate finance, mergers and acquisitions, and equity sales and trading. He also headed the North American real estate brokerage, financing, capital markets and advisory business. McGregor started his investment banking career in 1979 and joined RBC as a managing director in 1990 through the acquisition of Marcil Trust.
Standish, as co-president, led the firm's global markets business, including global debt markets, financial products, debt finance, fixed-income and foreign exchange, as well as municipal finance. Standish joined RBC in New York in 1995 as head of proprietary and structured trading.