Newspaper article The Canadian Press

RBC Fires Head of U.S. Capital Markets over Workplace Relationship

Newspaper article The Canadian Press

RBC Fires Head of U.S. Capital Markets over Workplace Relationship

Article excerpt

Royal Bank fires U.S. chief executive

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TORONTO - The Royal Bank of Canada has fired the head of its U.S. capital markets division for violating its policies about relationships with fellow employees.

"Blair Fleming did not comply with our disclosure and conflict of interest policies relating to workplace relationships," spokeswoman Gillian McArdle wrote in an email.

"When the matter was brought forward, we investigated and acted promptly."

Fleming was the American CEO of RBC Capital Markets and US head of investment banking and oversaw all the division's businesses in the U.S., says his LinkedIn page.

Fleming, 56, began his career with Royal Bank in 1986 in London, Ont., and moved to New York City in 2009, where he and his wife live with their four daughters.

The announcement of Fleming's departure earlier in the week generated employee questions, Douglas McGregor, the bank's group head of capital markets, said in an employee memo.

"We want to be clear that inappropriate behaviour at RBC is unacceptable and in breach of our Code of Conduct and Respectful Workplace Policies," he wrote. …

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