Royal Bank of Canada (RBC) has made significant changes in its investment banking division. Jefferies upgraded RBC to a buy rating, citing the bank's acquisition of HSBC Canada, with a target price of $157. RBC appointed insider Stopnik as the global investment banking head, signaling a focus on international growth. Additionally, RBC reorganized its investment banking division to enhance deal-making capabilities and hired a Goldman Sachs banker to lead Canadian equity capital markets.
RBC hires Goldman Sachs banker to lead Canadian equity capital markets https://t.co/5tLO8LwH8M
RBC Reorganizes Investment Banking in a Play for More Deals https://t.co/1sygEp5CqY
RBC names new head of global investment banking as it focuses on international growth https://t.co/B4jpjax2sE
RBC names insider Stopnik as global investment banking head https://t.co/ZtHZW2wBWL https://t.co/5ZSZg5PhM9
$RBC Jefferies upgrades Royal Bank of Canada to buy from hold Jefferies said it likes the Canadian bank’s purchase of HSBC Canada. “We are upgrading RY to a BUY with a $157 target price (previously $136).”