RBC Hires Three Citi Retail Investment Bankers in Expansion (1)

Royal Bank of Canada’s capital-markets division is bulking up its consumer and retail investment-banking franchise with three bankers from Citigroup Inc., including hiring Douglas Trauber as the new global head of the business.

Also joining RBC from Citi are Hugh Paisley and Jason Neumann, according to an internal memo seen by Bloomberg News. Carrie Cook, RBC’s current global head of consumer and retail investment banking, was promoted to co-head of Canadian investment banking.

RBC Capital Markets Chief Derek Neldner has said he plans to hire around 25 managing directors globally this year, even amid fierce competition for top ...