A Royal Bank of Canada (RBC) sign is seen in downtown Toronto in this March 3, 2011 file photo. Ratings agency Moody's downgraded 15 of the world's biggest banks on June 21, 2012, lowering credit ratings by one to three notches to reflect the risk they face from volatile capital markets activities. Picture taken march 3, 2011. To match story FINANCIAL-MOODYS/ REUTERS/Mark Blinch/Files (CANADA - Tags: BUSINESS)MARK BLINCH/Reuters
Royal Bank of Canada's asset management division, one of the largest mutual fund groups in Canada, has parted ways with its head equity trader.
Darryl Noronha, the long-time head trader at RBC Global Asset Management, is no longer with the firm effective Wednesday, a spokeswoman for RBC confirmed. Jason Melo will take on the role.
Mr. Melo has spent his whole career with RBC and "has proven trading expertise, robust knowledge of the ever-changing regulatory and exchange landscape, and strong communications skills – all of which will continue to be assets to our clients and our team," spokeswoman Leah Commisso said in an e-mail. "We are confident that it will be a smooth transition."
Ms. Commisso did not immediately respond to a query on what prompted the change.