The Financial Post reports in its Wednesday edition that Royal Bank chief executive officer Dave McKay says he is eager for his bank's takeover of HSBC Canada to close so the two can begin an integration that he expects will lead to significant cost savings. The Post's Denise Paglinawan writes that the deal, which is expected to close in the first quarter of 2024, is on track to save the company $740-million on costs, which works out to about 55 per cent of HSBC Canada's overall cost base. Mr. McKay said this figure will firm up as the coming weeks get closer and the companies get locked in on the closing date. "Creating a global centre of business in Vancouver was really important to us because we're looking at consolidating work from the U.S. into Canada to save on costs," Mr. McKay told a bank CEO conference in Toronto on Tuesday. This expansion in the West is significant for the bank, particularly consolidating work from California where he said it is expensive and more challenging to hire bank employees. The deal to buy HSBC Canada, first announced in November, 2022, represents the largest acquisition in RBC's history, and gives it the chance to expand its domestic operations with HSBC's $120-billion in assets.