Early in Gord Nixon’s run as CEO of Royal Bank of Canada, his former investment banking partners started quietly complaining the new boss had forgotten his roots, because he was directing the bank’s considerable resources away from capital markets and into wealth management acquisitions.
The same grumbling played out three years ago when Brian Porter took the reins at Bank of Nova Scotia, with i-bankers whining they were not feeling the love from their one-time teammate, who now seemed fixated on credit cards and fintech.Report Typo/Error
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- Bank of Montreal$91.51+0.34(+0.37%)
- Bank of Montreal$67.79+0.20(+0.30%)
- Royal Bank of Canada$94.47+0.55(+0.59%)
- Royal Bank of Canada$69.79+0.15(+0.22%)
- Bank of Nova Scotia$76.12+0.21(+0.28%)
- Bank of Nova Scotia$56.40+0.24(+0.43%)
- Canadian Imperial Bank of Commerce$106.20+0.83(+0.79%)
- Canadian Imperial Bank of Commerce$78.29+0.21(+0.27%)
- Toronto-Dominion Bank$64.26+0.01(+0.02%)
- Toronto-Dominion Bank$47.73+0.24(+0.51%)
- Updated May 26 4:01 PM EDT. Delayed by at least 15 minutes.