RBC Capital Markets continues hiring drive in Europe building on leading mining franchise


London, 28 June 2010 - RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RY on TSX and NYSE), the 11th largest bank in the world, today announced that it has hired Jonathan Stephens as a Director in its Global Investment Banking team.  Stephens will be based in RBC’s London office and report to Richard Horrocks-Taylor, Head of Mining & Metals Investment Banking, EMEA, RBC Capital Markets.


Stephens joins RBC Capital Markets’ growing investment banking platform, which has over 90 professionals based in London, from CIBC where he was an Executive Director in its Global Mining Group for the past seven years.  Prior to this, Stephens held positions at JP Morgan Chase and Deutsche Bank.


Commenting on the hire, Patrick Meier, Head of European Investment Banking, RBC Capital Markets, said: “Jonathan’s appointment strengthens our global mining franchise and reiterates the fact that, while we are proactively looking to expand our platform in sectors such as financials and general industrials, we continue to invest in our core offerings of mining, metals, oil and gas.  We will be making further hire announcements across our investment banking and sales and trading platforms in Europe, over the coming months.”


RBC Capital Markets has continued to actively hire throughout 2010. Since January of this year, it has hired over 530 people globally. Of this, 140 hires have been in Europe, bringing the total number of RBC Capital Markets employees in Europe to over 1,000.


RBC is one of only five non-sovereign banks rated by Moody’s as Triple A, with a Tier 1 capital ratio of 13.4%.  It recently reported Q2 earnings of C$1,329 million, up 40% on last year (excluding goodwill impairment charge in Q2 2009), with RBC Capital Markets reporting net income of C$502 million, up 20% on Q2 2009.


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Media Enquiries:
Greentarget, London: Dafina Grapci-Penney / Phillippa Cantrill - Tel: +44 (0)20 7680 5052 / 5063
RBC Capital Markets: Louisa Fairman - Tel: +44 (0)20 7029 7821


About RBC Capital Markets

RBC Capital Markets is the corporate and investment banking arm of RBC and is consistently ranked among the top 20 global investment banks.  With over 4,000 employees, RBC Capital Markets is active globally in fixed income, foreign exchange, infrastructure finance, ECM, metals, mining and energy. Working with clients through operations in Asia and Australasia the UK and Europe and in every major North American city, RBC Capital Markets provides capital markets products and services from 75 offices in 15 countries. RBC Capital Markets international fixed income and treasury businesses are managed from London, which is the centre of a 24-hour trading platform, with major hubs in Sydney, New York and Toronto. For more information, please visit www.rbccm.com.

About RBC

Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada’s largest bank as measured by assets and market capitalization, one of North America’s leading diversified financial services companies and among the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial service companies,  provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 77,000 full- and part-time employees who serve more than 18 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 53 other countries. For more information, please visit www.rbc.com.