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RBC shuffles U.S. electronic trading team

A Royal Bank of Canada sign is seen downtown Toronto in this March 3, 2011, file photo.

Mark Blinch/Reuters

Some of Canada's big banks have been feeling the effects of slowdowns in their capital markets businesses, and for RBC Capital Markets that could have been the reason behind a couple of recent changes.

The group's managing director and co-head of global electronic trading is no longer with the team, according to a report by Reuters out on Friday. Brian Suth had only been in the role nine months, although from a look at his LinkedIn profile, Mr. Suth previously spent more than two years with RBC Capital Markets as head of electronic sales.

That shifts responsibility to the remaining leader of of global electronic trading, Thomas Gajer, who will stay with the firm. The report also notes that RBC has moved Gaurav Mundra from his position as head of quantitative execution and liquidity strategy to being the U.S. head of electronic sales and trading.

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But even though the conditions for investment banking and trading operations have been challenging for banks, RBC Capital Markets says that there aren't any other layoffs planned at the moment.

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About the Author
Financial Services Reporter

Jacqueline Nelson is a financial services reporter at the Report on Business. Prior to that she was a staff writer at Canadian Business magazine, covering news and writing features on a wide variety of subjects. More

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