RBC Appoints Dave McKay to its Board of Directors

TORONTO, Aug. 1, 2014 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that Dave McKay joins its Board of Directors and assumes the role of President and Chief Executive Officer of RBC. Mr. McKay succeeds Gordon Nixon, who has retired from the Board.

"I want to thank Gord for his leadership and congratulate him on a remarkable career at RBC. Under his guidance, RBC has grown into one of the largest and most-respected financial institutions globally," said Kathleen Taylor, Chair of the Board, RBC. "We are pleased to welcome Dave McKay to the Board of Directors and are confident that under his leadership, RBC will continue to build on its success."

Prior to being appointed as President on February 26, 2014, Mr. McKay was Group Head of the Personal & Commercial Banking segment of RBC, which comprises RBC's personal banking operations and certain retail investment businesses in Canada, the Caribbean and the U.S., as well as RBC's commercial banking operations in Canada and the Caribbean. Mr. McKay's distinguished 26-year career at RBC includes senior roles in retail banking, risk management and international experience in corporate banking.

ABOUT RBC

Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. We employ approximately 79,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 42 other countries. For more information, please visit rbc.com.

RBC supports a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2013, we contributed more than $104 million to causes worldwide, including donations and community investments of more than $69 million and $35 million in sponsorships. Learn more at www.rbc.com/community-sustainability.

SOURCE: RBC