Royal Bank of Canada Consolidates Transaction Banking Under New Global Unit

The newly minted unit will operate under the joint leadership of Sean Amato-Gauci, head of Commercial Banking, and Derek Neldner, CEO of RBC Capital Markets. By integrating these previously siloed capabilities, the bank intends to provide a more cohesive digital experience for clients navigating complex cross-border payments, liquidity management, and trade finance. Despite the structural consolidation, RBC confirmed that its financial reporting will remain unchanged, with results continuing to flow through current business segments.

Execution of the new strategy falls to Kartik Kaushik, appointed as Head of Product, Platforms and Solutions, and Michael Klopchic, who will lead Client Coverage. Their work will center on scaling established digital platforms like RBC Clear in the U.S. and RBC Edge in Canada. As the bank seeks to generate new deposits to fuel future growth, this reorganization leverages RBC’s existing market dominance—specifically its status as Canada’s largest wholesale deposit holder—to capture a larger share of the global transaction market.