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A Royal Bank of Canada (RBC) sign is seen in downtown Toronto.
A Royal Bank of Canada (RBC) sign is seen in downtown Toronto.
(MARK BLINCH/REUTERS)

RBC hires new technology and operations head

Royal Bank of Canada hired a new executive responsible for technology and operations.

Bruce Ross joins RBC’s executive committee from IBM, where he last served as North American head of global technology services, and was previously head of IBM Canada.

In the past, technology and operations would not have been regarded as high-profile compared to, say, capital markets, or as impactful to the bottom line as personal and commercial banking, but no longer. All of the Big Six banks are spending heavily on technology, doing everything from upgrading their retail sales force programs to investing in mobile wallets and cloud technology.