Royal Bank of Canada (RBC) has announced that its group chief risk officer, Mark Hughes, will retire.
Hughes’ retirement is effective April 09, 2018, ending a 37-year career with the bank.
“Throughout his distinguished career, Mark has had a significant impact on RBC’s success,” commented RBC president and CEO Dave McKay. “His strong understanding of RBC’s businesses, along with deep insights into the ever-evolving risk and regulatory environment made him an exceptional GCRO and has helped RBC execute our growth strategy supported by a foundation of strong risk management.”
“On behalf of RBC, I would like to thank Mark for his many contributions to RBC and to the global risk management industry more broadly. We wish him all the very best in his upcoming retirement,” McKay added.
Hughes joined RBC in 1981 and held several senior roles at the bank, primarily in Corporate Banking and Global Credit in a number of international offices. Before being named group chief risk officer in 2013, he was executive vice-president and chief operating officer of capital markets.
Graeme Hepworth – currently executive vice-president of retail and commercial risk – has been appointed deputy chief risk officer, effective February 01, 2018. He will report to Hughes. On April 09, 2018, Hepworth will later assume the role of group chief risk officer. He will report to McKay and he will join RBC’s Group Executive.
“Graeme’s deep expertise in credit and market risk and exposure to all of our key businesses, along with his global perspective will serve him well in his new role. He will be an excellent addition to our Group Executive Committee,” McKay said.
Hepworth joined RBC in 1997 in group risk management. He has held a number of senior positions, including head of US market risk and chief risk officer in Europe.
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Mark Hughes, Group chief risk officer, Royal Bank Of Canada
