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Royal Bank of Canada
Symbol RY
Shares Issued 1,397,524,445
Close 2026-01-28 C$ 225.93
Market Cap C$ 315,742,697,859
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Globe says RBC's McKay seeks new investment horizons

2026-01-29 07:57 ET - In the News

The Globe and Mail reports in its Thursday edition that RBC chief executive officer Dave McKay is exploring new banking opportunities in global markets -- including opening offices in the Middle East -- as Ottawa accelerates its plans to redraw trade routes for Canadian companies. The Globe's Stefanie Marotta writes that Mr. McKay recently returned from Davos, where he spoke with U.S. representatives about the bank's role in the American economy and with officials from the Middle East about attracting investment to Canada and business growth in the region. Mr. McKay was in the room as Prime Minister Mark Carney gave his provocative speech at the World Economic Forum, which cautioned that the old world order -- "the rules-based international order" -- is not coming back. Mr. McKay said the message was clear: All countries, including Canada, need to diversify their trade. "It doesn't matter whether you believe or disbelieve there's a fundamental change in the order, it's just smart business to diversify," Mr. McKay told The Globe. Opportunities in the Middle East were a significant topic of discussion among government representatives and business leaders at Davos, and RBC is seeking banking licences in the region.

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