Royal Bank of Canada cuts 1% of investment banking team in U.S.

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Royal Bank of Canada cuts 1% of investment banking team in U.S.

The investment banking arm of the Royal Bank of Canada held a round of layoffs in the United States, according to people with knowledge of the matter.

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Click here to see other videos from our team. Some people who asked not to be identified as discussing personnel changes said that the lender's RBC Capital Markets division cut one percent of its U.S. investment banking team, or Royal Bank of Canada, off 1% of its U.S. investment banking team. One person said that the moves were in line with RBC's standard annual changes.

Elisa Barsotti, a spokeswoman for the bank, said that we made minimal cuts to our U.S. investment-banking business, which was in line with our normal attrition.