RBC parts ways with chief strategy officer, leading to executive shuffle

Royal Bank of Canada is parting ways with its chief administrative and strategy officer and rejigging its executive team, a shake-up that will broaden the role of its chief legal officer.

. In his place, chief legal officer Maria Douvas will add the role of chief administrative officer to her portfolio. Mr. Knoess and Ms. Douvas are both based in New York. Mr. Knoess, a former McKinsey consultant, joined RBC in 2019 and was brought in improve productivity and efficiency. As an outsider, he was thought to be capable of implementing tough transformation measures, including cost costs, and of incorporating strategies he helped develop for other financial institutions.

Based in the U.S., Mr. Knoess also helped to shape the growth strategy for City National, RBC’s California-based subsidiary. Lately, however, City National has faced headwinds and needed a capital injection from the parent bank.Ms. Douvas, who is taking on his administrative functions, joined RBC in 2021. She was previously a partner at Paul Hasting and before that was also a federal prosecutor in the U.S. Attorney’s Office for the Southern District of New York.

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