The Globe and Mail reports in its Wednesday edition that Royal Bank of Canada is rejigging its strategy in the United States after a year of underperformance at Los Angeles-based City National Bank. The Globe's Stefanie Marotta writes that Canada's largest lender is aiming to streamline its operations and boost cross-selling between its capital markets business, its wealth management unit and its City National subsidiary, group head of capital markets Derek Neldner said during a conference Tuesday in New York. "Those businesses were all at various phases of maturation and as a result to date, they've largely run in fairly distinct silos," Mr. Neldner said. "As most of us know, there's implicit inefficiencies when you're running things in a more siloed way." Mr. Neldner, who has been tasked with overseeing the renewed strategy in the United States, outlined four key components to the plan, including driving more referrals between its commercial, small businesses and wealth clients. He is also looking to streamline the operations between the three businesses in the U.S. to lower costs and reduce the bank's efficiency ratio. The businesses use different technology platforms, which causes inefficiency and boosts costs.