Royal Bank of Canada's Chief Financial Officer to Retire
October 21 2016 - 10:53AM
Dow Jones News
By Judy McKinnon
Royal Bank of Canada (RY) on Friday said its longtime chief
financial officer, Janice Fukakusa, will retire the end of January
after a 31-year career with the bank.
Toronto-based RBC, Canada's biggest bank by assets, said Ms.
Fukakusa will be succeeded by Rod Bolger, who is now executive
vice-president finance and controller.
Before joining the Canadian lender in 2011, Mr. Bolger held a
number of executive positions with Bank of America (BAC). Prior to
that, he was with Citigroup Inc. (C).
"(Ms. Fukakusa) played a key role in ensuring the integrity of
our financial reporting and efficiency management programs, our
compliance with ever-evolving regulatory standards, and the
transparency of our financial disclosure...," RBC Chief Executive
Dave McKay said in a release.
Ms. Fukakusa has been with the bank since 1985, became chief
financial officer in 2004 and took on the additional role of chief
administrative officer five years later.
In its most recent quarter ended in July, RBC's net profit
climbed a better-than-expected 17% and revenue was up more than 16%
to 10.3 billion Canadian dollars ($7.8 billion). Canadian lenders
have continued to perform well amid sluggish economic growth linked
to continued low oil prices.
Write to Judy McKinnon at judy.mckinnon@wsj.com
(END) Dow Jones Newswires
October 21, 2016 10:38 ET (14:38 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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