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RBC Capital Markets group head to retire

Royal Bank of Canada's group head of RBC Capital Markets and RBC Investor & Treasury Services, Doug McGregor, will retire Jan. 31, 2020.

McGregor, who has been with the bank for 37 years, became RBC Capital Markets' CEO in 2008 and assumed responsibility for RBC Investor & Treasury Services in 2012.

Derek Neldner, global head of investment banking, will become group head of RBC Capital Markets on Nov. 1, while McGregor will take up the chairman role until his retirement.

Effective the same day, Mike Bowick will become president of RBC Capital Markets, and will continue to be responsible for the global markets business and treasury market services operations.

Additionally, Doug Guzman, group head of wealth management and insurance, will assume leadership for RBC Investor & Treasury Services.