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RBC fires head of US unit

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RBC fires head of US unit

The head of Royal Bank of Canada's U.S. operations was fired for failing to disclose a workplace relationship, the Financial Times reported.

Blair Fleming was president and CEO of RBC USA Holdco Corp., and he oversaw investment banking and capital markets in the U.S., according to the report.

Fleming will be replaced by Jim Wolfe, currently head of leveraged finance, and Matthew Stompnik, co-head of financial sponsors, the Financial Times reported, citing memos from the company. Also, Derek Neldner was promoted to head of global investment banking.