Barbara Stymiest has resigned from her position as Chief Executive Officer of TSX Group Inc. to become Chief Operating Officer of the Royal Bank of Canada.
In her new role at Canada's biggest bank, Ms. Stymiest will be responsible for strategic development and will have all corporate functions reporting to her, including risk management and finance, RBC said. She will also serve on the Group Executive, which is the company's senior management committee.
"I am delighted Barbara Stymiest is joining our team at RBC," said president and CEO Gordon Nixon.
In a press release, the TSX said it has formed a committee to search for her replacement, effective October 31. She will start at RBC the following day.
Ms. Stymiest has been president of the TSX since October 1999. Before that, she was chair of the board of governors of the Toronto Stock Exchange (TSE). It was renamed the TSX Group in April 2002.
In her role as the head of the TSX, Ms. Stymiest oversaw the end of the trading floor in Toronto and the restructuring of major stock exchanges located across Canada into one exchange that now conducts all senior equities trading. The exchange also went public in November 2002 with her at its helm.
Ms. Stymiest, 47, has been described as a trail blazer for female executives in Canada. Appointed the youngest partner at Ernst & Young at 30, she was named executive vice-president and chief financial officer of Nesbitt Burns Inc. at 35, and later became the first woman named to the TSE board of governors as a representative of a member firm. In 1993, she became the first female governor representing a member company to join the TSE's board of governors.
Ms. Stymiest has a degree in business administration from the Richard Ivey School of Business and is a fellow of the Institute of Chartered Accountants of Ontario.
"We wish Barbara every success in the next stage of her career and thank her for her leadership and contributions to the organization," said Wayne Fox, chair of TSX.