08:08:24 EDT Tue 06 Oct 2026
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Royal Bank of Canada
Symbol RY
Shares Issued 1,383,972,659
Close 2026-10-05 C$ 277.59
Market Cap C$ 384,176,970,412
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Globe says RBC ex Guzman to head defence procurement

2026-10-06 07:00 ET - In the News

The Globe and Mail reports in its Tuesday edition that Canada plans to turn its new agency for speeding up purchases of military gear into a Crown corporation -- a transformation that will give the organization and chief executive officer Doug Guzman far more authority in decision-making. The Globe's Steven Chase and Marieke Walsh Write that Prime Minister Mark Carney's government created the Defence Investment Agency to streamline the procurement of military purchases worth $100-million or more. Last year, Ottawa committed to the biggest ramp-up of defence spending in more than 70 years in an effort to bolster self-reliance and meet rising targets agreed to by members of NATO. Legislation being tabled this week by Procurement Minister Joël Lightbound includes measures to make the DIA a Crown corporation. The government is making the move more than three weeks after Mr. Guzman, a former deputy chair of Royal Bank of Canada, sent a mass e-mail to staff informing them he intends to remain CEO of the DIA and has no intention of quitting, despite reports he was frustrated and ready to leave. The legislation will be tabled Tuesday in the Commons. The idea is to give the CEO far more discretion and authority over purchasing.

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