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Globe says RBC, others ready to disappoint women again

2024-03-18 09:36 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Monday edition that Canada's big banks are on the brink of a round of new CEO appointments, and the chances that the next group will include a woman are slim to none. The Globe's Stefanie Marotta writes that more than 13 years ago, then-chief executive officer of Royal Bank of Canada, Gord Nixon, predicted that the next round of CEOs at the major banks would include the first female CEO. That round came and went without any progress. Today, many of Canada's largest lenders are setting the stage for a new round of succession in the coming years. RBC's Dave McKay, TD Bank's Bharat Masrani and CIBC's Victor Dodig are the longest-serving CEOs among their peers, each hovering around the 10-year mark in their terms -- the typical tenure for a Big Six bank leader. None of the three CEOs have signalled they are leaving any time soon. Mr. Dodig recently told The Globe that "there's still more to do." Mr. Masrani told analysts that he is "focused on strengthening the bank." On Bay Street, however, speculation is swirling on who is jockeying for a spot on the list of contenders notably absent of women. In recent years, the number of women leaving the top ranks has outpaced the number moving in.

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