Royal Bank of Canada is putting its leadership in the hands of David McKay, whose consumer-lending experience is a departure from the investment-banking background that propelled Gordon Nixon to chief executive officer 12 years ago.
Deutsche Bank AG is cutting about 200 commodities jobs, joining the world’s largest financial firms in reducing headcount to the lowest since 2009 as prices for everything from energy to metals head for the first annual drop since the recession.
Royal Bank of Canada said Chief Executive Officer Gordon Nixon will retire next year as the nation’s largest lender reported fiscal fourth-quarter profit that beat analysts’ estimates on gains in investment banking and consumer lending.
Deutsche Bank AG is cutting about 200 commodities jobs, joining the world’s largest financial firms in reducing headcount for trading in everything from energy to metals to the lowest since at least 2009 as regulations tighten and revenue slides.
Over the past few years, many nations have adopted policies that promise to improve people’s lives while preserving their freedom of choice. These approaches, informed by behavioral economics, are sometimes called nudges.
Deutsche Bank AG, Europe’s biggest investment bank by revenue, barred multi-party chat rooms at its fixed-income and currency trading businesses as regulators continued punishing banks for alleged rate-rigging.
Bank of Montreal, Canada’s fourth- largest lender by assets, fell the most in almost three years after profit excluding an accounting gain missed analysts’ estimates and earnings from U.S. operations declined.