Jennifer Tory, currently group head of Personal & Commercial Bank (P&CB) for the Royal Bank of Canada, will assume the role of chief administrative officer. Neil McLaughlin, currently executive vice-president, Business Financial Services of P&CB will become group head of P&CB, replacing Tory.

Tory will continue to report to Dave McKay, president CEO and will remain a member of the Group Executive. In his new role, McLaughlin will also report to McKay and join the Group Executive. These changes are effective May 1, 2017.

“I am pleased that shareholders, clients and employees will benefit from Jennifer’s nearly four decades of financial services experience in the critical role as CAO. Her relentless focus on the customer and her deep understanding of the bank and what it takes to provide exceptional client experiences, positions her well to provide oversight and alignment for initiatives that cross various businesses and functions,” said McKay.

For the past three years as Group Head, P&CB, Tory has advanced the transformation of RBC’s Canadian retail bank to a digitally-enabled relationship bank. She also oversaw the continuing realignment of Caribbean Banking to better serve clients and drive long-term profitability.

“Throughout his career, Neil has acquired a breadth of experience across Canadian Banking, consistently demonstrating his strong leadership, outstanding business acumen, and an ability to develop and execute new strategies to effectively acquire market share. I look forward to having Neil’s insight and leadership as part of the Group Executive team,” noted McKay.

McLaughlin joined RBC in 1998 and has held a wide range of senior management and executive positions within Canadian banking, including roles in the Credit Card and Personal Lending lines of business as well as distribution and operations.