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UPDATE 1-MOVES-RBC hires U.S. co-heads of consumer and retail banking-sources

Published 2016-05-18, 04:51 p/m
© Reuters. UPDATE 1-MOVES-RBC hires U.S. co-heads of consumer and retail banking-sources
CSGN
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WFC
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RY
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(Adds details of Credit Suisse retail hire in last paragraph)
By Lauren Hirsch and Mike Stone
May 18 (Reuters) - Royal Bank of Canada RY.TO has hired
two co-heads of U.S. consumer and retail investment banking in
New York, one from Wells Fargo (NYSE:WFC) & Co WFC.N and another from
Credit Suisse Group AG CSGN.S , according to people familiar
with the matter.
Andrew van der Vord and David Frank will be co-heads of
consumer retail investment banking, the people said, asking not
to be named because the hires had not yet been announced.
Credit Suisse and Wells Fargo declined to comment. A
representative for RBC did not immediately return a request for
comment.
Andrew van der Vord comes from Credit Suisse, where he was
global vice chairman of consumer investment banking. He will
also be vice chairman of investment banking at RBC in addition
to his co-head role.
David Frank will join RBC from Wells Fargo, where he was
head of retail investment banking for the past five years.
Before joining Wells Fargo, Frank was at Credit Suisse for a
decade.
Credit Suisse hired Jeff Cohen in March from Lazard Ltd
LAZ.N as its vice chairman of global retail. Jens Welter runs
the team globally.

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