Executive Team

Douglas McGregor
Group Head, RBC Capital Markets and RBC Investor & Treasury Services
Chairman and CEO, RBC Capital Markets

Doug McGregor is Group Head, RBC Capital Markets and RBC Investor & Treasury Services, Chairman and CEO of RBC Capital Markets, and is a member of RBC’s Group Executive. As Chairman and CEO of RBC Capital Markets, Doug has global oversight of the firm’s Corporate & Investment Banking and Global Markets activities conducted by its approximately 7,500 employees worldwide. He also directly leads the investment bank’s real estate lending businesses. As Group Head of RBC Investor & Treasury Services, Doug is responsible for this business’ custody, treasury and financing services for institutional clients globally.

Doug began his career in corporate finance and then institutional equity sales at Pitfield Mackay Ross Ltd. in 1979. In 1983, he became a real estate investment banker with Marcil Trust, which was later acquired by RBC Capital Markets in 1990. Doug holds an Honours BA (Business) and an MBA from the University of Western Ontario. While at university, his accomplishments as an athlete earned him the Purple Blanket for achievement in wrestling at the national level and induction into the “W” Club Hall of Fame. In 2016, Doug was recognized by Saint Mary’s University in Halifax, Nova Scotia with an Honorary Doctor of Commerce degree for his accomplishments in the financial services industry, contributions to the community and support for advanced learning.

An involved community member, Doug serves on the University Health Network’s Board of Trustees in Toronto and is a former Chairman of the Board of Directors of the Investment Industry Regulatory Organization of Canada. He is an active fundraiser for The United Way and for Ingles House, a home for young women recovering from addiction, and its parent organization, LOFT Community Services.

Troy Maxwell
Troy Maxwell
Chief Operating Officer

Troy Maxwell is Chief Operating Officer of RBC Capital Markets with global responsibility for all operational and administrative matters of the firm, including optimizing cost base management and financial resources, and leading the response to regulatory change. Previously, Mr. Maxwell was Executive Vice President of Finance and Chief Financial Officer of RBC Capital Markets and Technology & Operations, where he oversaw all finance services to RBC’s wholesale business and technology and operations platform.

Mr. Maxwell is a champion for diversity-related initiatives at RBC and an active member of the community. Since 2009, he has served as the executive sponsor of RBC’s Advancement of Women in Leadership committee, a global leadership forum responsible for driving actions to improve representation of senior women at the bank. Additionally, Mr. Maxwell is a senior advisor for RWomen, RBC Capital Markets’ internal forum dedicated to fostering the development and career aspirations of women. Mr. Maxwell has played a key role in RBC’s annual United Way campaign for several years and acts as Co-Chair of RBC’s national Major Individual Gifts Committee. He is also a member of the United Way Toronto & York Region’s Major Individual Giving Cabinet.

Prior to joining RBC, Mr. Maxwell was Chief Financial Officer of CIBC World Markets and a partner at PricewaterhouseCoopers LLP, where he led the financial institutions and corporate treasury risk management consulting and advisory business.

Mr. Maxwell is a Chartered Professional Accountant, and holds an Honours BA and a Master's Degree in Accounting from the University of Waterloo.

Nadine Ahn

Nadine Ahn
Senior Vice-President, Capital Markets Finance

Nadine Ahn is Senior Vice-President of RBC Capital Markets Finance. She has overall global accountability for Capital Markets Finance, providing financial governance and value-added financial advice to support RBC Capital Markets, including financial control, product control, valuations and performance management. Nadine is a member of the CAO & CFO Operating Committee and the Capital Markets Operating Committee.

Nadine joined RBC 17 years ago and has held various senior roles in Corporate Treasury and Finance, most recently as VP & Controller, Global Head of Financial Control, Capital Markets Finance.

She is a CPA and holds a Bachelor of Commerce from the University of Toronto.

Michael Bowick
Michael Bowick
Head, Global Markets

Mike Bowick is Head of the Global Markets Division of RBC Capital Markets. Mr. Bowick provides oversight to the Trading and Sales activities of Global Equities, Global Fixed Income & Currencies, and Global Commodities, Futures & Electronic Trading. In addition to his responsibilities in Global Markets, Mr. Bowick has responsibility for the Counterparty Risk Trading (CRT) group, which manages the counterparty risks arising from OTC derivative contracts, well as oversight of some of RBC Capital Markets' legacy risk positions. Since joining RBC in 1986, Mr. Bowick has assumed increasingly senior roles managing derivative businesses that reference most asset classes such as FX, Interest Rates, Credit, and Equity. Mr. Bowick holds an undergraduate degree in Business from the University of Prince Edward Island and an MBA from Dalhousie University in Halifax, Nova Scotia.

Michael Bowick
Josh Critchley
Head, European Investment Banking

Josh Critchley is Head of European Investment Banking at RBC Capital Markets. He is a member of the RBC Capital Markets Operating Committee and the European Operating Committee, and sits on RBC’s European Executive Committee. Josh joined RBC Capital Markets in September 2009 to help lead the build-out of our European investment banking and equities platforms within Capital Markets.


Josh has 22 years of investment banking experience, most recently at Goldman Sachs from 2004 to 2009 and before that at Merrill Lynch from 1993 to 2004. He has been responsible for the origination and execution of a significant number of transactions in a variety of industries, including for financial, consumer, telecommunication, healthcare and industrial companies.


Josh holds a BSc from City University Business School, London.

Blair Fleming
Blair Fleming
Head, RBC Capital Markets, U.S. & Head, U.S. Investment Banking

Blair Fleming is Head of RBC Capital Markets, U.S. and Head of U.S. Investment Banking. In his role as Head of RBC Capital Markets, U.S., Mr. Fleming provides oversight on strategy execution with effective governance across all Capital Market businesses in the U.S. In his role as Head of U.S. Investment Banking, Mr. Fleming has responsibility for client and product coverage of U.S. investment banking clients and targets, with specific responsibility for the corporate finance industry groups, mergers and acquisitions, equity capital markets, leveraged finance, and loan and high yield capital markets teams within U.S. Investment Banking. Mr. Fleming is a member of the firm's Operating Committee and Loan Commitments Committee.

Mr. Fleming began his career with Royal Bank of Canada in 1986 in London, Ontario and has held various positions with Royal Bank and then within RBC Capital Markets, the Investment Banking division of RBC. In 2009, he assumed his current responsibilities in New York City where he and his wife reside with their four daughters.

Mark Hughes
Mark Hughes
Chief Risk Officer, RBC

As Chief Risk Officer, Mark Hughes oversees the strategic management of risk on an enterprise-wide basis. He is a member of RBC’s Group Executive, which sets the bank’s overall strategic direction, as well as a member of RBC Capital Markets’ Operating Committee.

Prior to his current role, Mr. Hughes served as RBC Capital Markets’ Chief Operating Officer with responsibility for the firm’s international, operational and administrative matters globally.

Mr. Hughes joined RBC Capital Markets in 1981 and has held progressively senior roles at the bank primarily within RBC Capital Markets’ Corporate Banking and Global Credit platforms in Toronto, New York and London. Mr. Hughes was appointed an executive officer of RBC in 1995, and has been responsible for RBC’s global wholesale loan portfolio over the past decade. He has deep credit, market and operational risk experience through leading the work to further strengthen controls and governance across RBC Capital Markets’ global platform, and in providing oversight and coordination of risk management activities across all lines of business.

Mr. Hughes received his MBA (Finance) from Manchester Business School and his LL.B from Leeds University in England.

Jonathan Hunter
Jonathan Hunter
Global Head of Fixed Income and Currencies

Jonathan Hunter has served as Global Head of Fixed Income and Currencies (FIC) at RBC Capital Markets since 2011, based in New York and Toronto, and is a member of the RBC Capital Markets Operating Committee.


Jonathan has been with RBC for close to 25 years, joining as a generalist in the Dealer Trainee Program in 1991. Since then, he has held progressively senior roles within Capital Markets, including Global Co-Head, Fixed Income and Currencies (2006-2011), based in New York, and Global Head of Liquid Products (2002-2006), based in London.


Today, Jonathan leads a team of more than 700 professionals globally and has been responsible for growing the FIC business in North America and Europe into a significant contributor to RBC Capital Markets’ earnings.


In addition, he is a member of RBC’s U.S. Diversity Leadership Council and is involved in the firm’s various mentorship initiatives. Jonathan is also a member of the Board of the International Swaps and Derivatives Association, Inc., and sits on the Board of Trustees for The Bishop Strachan School in Toronto.


He is an active participant in RBC’s many community and charitable initiatives, including the RBC Race for the Kids and the annual United Way employee giving campaign.

Jonathan earned his Honours Bachelor of Commerce Degree (Finance) from Queen's University in 1991, and is a Chartered Financial Analyst (CFA).

Clinton Lively
Clinton Lively
Global Head, Market Risk  

Clinton Lively is the Senior Vice President and Global Head of Market Risk for RBC group-wide. Mr. Lively is responsible for providing oversight and governance on market and trading credit exposures across the firm. He is a member of the Capital Markets Operating Committee and Group Risk Management Operating Committee. Prior to joining RBC in June of 2011 he was Senior Vice President and Head of Market Risk Supervision at the Federal Reserve Bank of New York where he managed the function that conducts examinations and stress testing on large and complex banking organizations operating in the United States. Prior to joining the Federal Reserve Bank of New York, Mr. Lively held senior risk management positions at JP Morgan, Merrill Lynch, Millennium Partners, LLC and Bankers Trust Company where he spent 15 years and was Senior Managing Director and Head of Global Risk Management. He has an MBA in Finance from the University of Chicago, an MS in Mathematics from the University of Virginia and a BA in Philosophy and the History of Science from St. John's College in Annapolis, Maryland. 

Greg Mills
Greg Mills
Head, Global Equities

Greg Mills is Head of the Global Equities Division of RBC Capital Markets. This division is responsible for all aspects of client coverage for both traditional cash equities and equity derivatives including sales and trading, origination, new issue distribution, risk management and research. He is a member of the firm's operating committee, both the U.S. and Canadian Commitment Committees and is also a member of RBC's Pension Investment Sub-Committee. Mr. Mills began his career as an equity trader with Burns Fry, and also spent time with First Boston and Scotia Capital. He joined RBC Capital Markets in 1998. He holds an Honours BSC (Geology) from the University of Windsor. Mr. Mills is a Director of Dignitas International and Chairman of Aequitas Innovations Inc.

Doug Moore
Head, Asia

Doug Moore is Head of RBC Capital Markets Asia based in Hong Kong. He is responsible for the firm's businesses in Asia which include Fixed Income and Currencies, Global Arbitrage and Trading, Treasury Services, Equity Markets, Corporate and Investment Banking, Global Credit and Central Funding. The firm has its larger Asian offices in Hong Kong, Sydney and Tokyo with additional offices in Singapore, Beijing and Mumbai. In addition, Mr. Moore is responsible for driving and executing the firm's Asian strategy and has senior client coverage responsibility for a number of RBC Capital Markets' most important clients in the region. He has lived in Hong Kong continuously for more than 20 years . Mr. Moore has extensive business and financial experience in Asia on both the buy and sell side, including strong investment management expertise with prominent Asian corporations, and in building a substantial financial services business for Credit Suisse in Hong Kong. Mr. Moore has a Juris Doctor from Osgoode Hall Law School, York University.

Derek Neldner
Head, Canadian and Asia Pacific Investment Banking

Derek Neldner is Head of Canadian and Asia Pacific Investment Banking at RBC Capital Markets. Mr. Neldner has oversight for the firm’s investment banking practices in both Canada and the Asia Pacific region, and has senior client coverage responsibility for a number of RBC Capital Markets’ most important corporate clients.

Mr. Neldner has 20 years of experience with RBC Capital Markets in investment banking, including: corporate finance, debt and equity financing, mergers and acquisitions, and other capital markets advisory assignments. Before assuming his current role, Mr. Neldner spent ten years in Calgary as Head of Canadian Energy Investment Banking. Prior to this, his experience included 10 years in the Equity Capital Markets group based in Toronto where he was responsible for equity and equity-related financing transaction development and execution.

Mr. Neldner is a member of the firm’s Operating Committee, the Loan Commitments Committee and the M&A Opinion Review Committee. He is also a board member of the Alberta Children’s Hospital Foundation and previously he Co-Chaired the Major Donors Cabinet for the United Way of Calgary and Area.

Mr. Neldner holds a Bachelor of Commerce degree in Finance from the University of Alberta and holds the Chartered Financial Analyst designation.

Blair Fleming
Helena Pagano
Head, Human Resources, RBC Capital Markets and RBC Investor & Treasury Services

Helena Pagano is the Head of Human Resources for RBC Capital Markets and RBC Investor & Treasury Services. She leads the HR function by working with a talented team around the globe to deliver a range of HR services and programs that enable business strategies. Ms. Pagano partners with the business to place, develop, reward, and retain the top talent to drive the organization's success.

Prior to joining RBC in December 2011, Ms. Pagano held several executive positions within the TD Bank including, Head of HR for TD Securities, VP Compensation, and Head of Process and Efficiency Review. Before that, she held various senior HR positions at CIBC and Noranda Inc. Ms. Pagano holds a Bachelor of Business Management from Ryerson University and is a Board Member of the Artists Health Alliance and a Member of the United Way's Major Individual Giving Cabinet.

Blair Fleming
Daniel Rosenbaum
Head, Central Funding

Daniel Rosenbaum is a Managing Director at RBC Capital Markets, Head of the Central Funding Business (CFG) Division & Chairman of RBC Capital Markets Japan, RBC Barbados Trading Bank Corporation and RBC Capital Markets Arbitrage S.A. subsidiaries. As the Head of CFG, Mr. Rosenbaum is responsible for overseeing a global secured financing business which delivers balance sheet solutions to its clients.

Mr. Rosenbaum joined RBC Capital Markets in 1999 in New York as member of the firm's Global Arbitrage and Trading business. He was transferred to London in 2000 where he developed a European trading business as well as co-found the CFG business. In 2005 he relocated to the Bahamas to develop the firm's Caribbean platform before being transferred back to New York in 2010. Mr. Rosenbaum holds a BS in Mathematics from the University of California, Santa Barbara and a MS in Operations Research from Princeton University.

Harry SamuelHarry Samuel
CEO, RBC Investor & Treasury Services and Chairman, European Executive Committee

As CEO for RBC Investor & Treasury Services, Harry has global oversight for one of RBC's five reporting segments responsible for asset, custody, treasury and payments services for institutional clients worldwide.

Harry is a member of the RBC Investor & Treasury Services and Capital Markets' Operating Committees, Director of RBC Europe Ltd., and Chair of RBC Investor Services Trust Company in Canada. In addition, Harry was named Chairman of RBC's European Executive Committee in November 2013. Among his many responsibilities, Harry is also a leading advocate for equality and is Chair of the UK Diversity Council and a longstanding member of RBC's Diversity Leadership Council.

Harry joined RBC in 1989 in FX and Money Markets, working in London, Toronto and Sydney. He has been co-head of global fixed income and FX, and previously established the securities finance business alongside commodities and futures trading. Between 2011 and April 2014, Harry was regional CEO for RBC Capital Markets in Europe. Harry holds an Honours BA from McGill University and a MSc from University of London (London School of Economics), and is actively involved in charitable and educational organizations in the UK, Canada and South Africa, promoting children's welfare and education.

Patti Perras Shugart
Patti Perras Shugart
Managing Director and Head, Corporate Banking and Global Credit, RBC Capital Markets

Patti Shugart is Managing Director and Head of Corporate Banking and Global Credit, and a member of the Operating Committee, at RBC Capital Markets.

Patti oversees a client-facing team of more than 500 professionals in Canada, the U.S., Europe, and Australia who specialize in lending, trading credit and loan portfolio management for our corporate and institutional clients. Patti chairs the Loan Portfolio Review Committee and the firm’s Commitments Committee which meet daily to determine all of RBC Capital Markets’ global lending decisions.

In addition to her professional responsibilities with respect to the management and strategic direction of the firm, Patti plays a key role in advancing diversity and inclusion as core values within RBC Capital Markets, and in ensuring they interconnect with the firm’s business strategy. She represents the firm on the enterprise-wide RBC Diversity Leadership Council, is a co-founder of RWomen, a global internal forum dedicated to fostering female development and career aspirations within the firm, and is the senior advisor to the RWomen Steering Committee. Patti is also the Executive Champion for the Toronto RBC Race for the Kids.

Patti is a member of the 2016 United Way Leadership Cabinet and is RBC's Executive Sponsor for Women Gaining Ground. She also chairs Women in Capital Markets’ Strategic Advisory Council which is dedicated to the advancement of women in the capital markets industry.

Patti was recognized for her outstanding contributions to the industry when she was honoured with the Women in Capital Markets Award for Leadership in 2010. More recently, she was named one of Canada's Top 100 Most Powerful Women by Women's Executive Network in 2015 and a Champion of Change by Women in Capital Markets in 2016.

Patti has an MBA from the University of Toronto (Rotman) and a Bachelor of Commerce (Honours) from Queen’s University. She is married and has two children.

David Thomas

Dave Thomas
CEO, Capital Markets, Europe

David Thomas is the Chief Executive Officer of RBC Capital Markets Europe, responsible for leading all aspects of the business in the region, including strategy execution and effective governance. This includes all areas of the UK business and the branch operations of RBC Europe Ltd., in Germany and France. He is a member of the RBC Capital Markets global Operating Committee and the European Executive Committee, and chairs the European Operating Committee. Mr. Thomas also holds a number of UK board roles including Executive Director of RBC Europe Limited and Chairman of RBC Global Asset Management (UK) Limited.

Mr. Thomas holds a BSc (Hons) degree from Loughborough University in the UK and joined RBC Capital Markets in 1992 following periods at a UK domestic bank and a technology company. Since joining RBC, Mr. Thomas has held a number of both global and regional mandates in Technology, Operations, Risk Management and Compliance. He is a member of the Corporate Partnerships Board for Great Ormond Street Hospital and is active in fundraising for the charity.