The Globe and Mail reports in its Thursday edition that Royal Bank is parting ways with its chief administrative and strategy officer and rejigging its executive group, a shakeup that will broaden the role of its chief legal officer. The Globe's Tim Kiladze and Stefanie Marotta write that Christoph Knoess, RBC's CAO, is leaving after four years. Maria Douvas, the bank's chief legal officer, will add CAO role to her portfolio. Mr. Knoess and Ms. Douvas both work in New York. RBC is at a critical juncture in two of its key growth businesses. The lender is acquiring HSBC Bank Canada later this month, the largest-ever Canadian deal in domestic banking, and will need to trim costs as it brings over a those employees. At the same time, RBC is overhauling its strategy in the United States to address headwinds in its Los Angeles-based City National Bank. Mr. Knoess joined RBC in 2019 and was brought in improve productivity and efficiency. As an outsider, he was thought to be capable of implementing tough transformation measures, including cutting costs, and incorporating strategies he helped develop for other financial institutions. Lately, however, City National has faced headwinds and needed a capital injection from RBC.