Royal Bank of Canada finance chief to retire and will be replaced by former PwC accountant
One of Royal Bank of Canada's (RBC) executive stalwarts will retire at the end of January the bank announced this morning.
Janice Fukakusa, who has been with RBC since 1985, will retire from her dual-posts of chief financial officer officer and chief administrative officer, with former beancounter Rod Bolger scheduled take over in lender's top finance job.
Read more: RBC deal takes Banque SYZ into Switzerland's top 20
"Janice's contributions to RBC and the financial services sector more broadly have been industry-leading," said Dave McKay, RBC's president and chief executive officer.
He added: "Her steady hand through market turbulence and her commitment to a strong financial control culture has helped deliver sustainable shareholder value."
After working her way up through the ranks, Fukakusa was appointed as finance chief in 2004 and added the administration role – that included being chief internal auditor – to her responsibilities in 2009.
Read more: RBC Capital Markets picks Uden as new head of ECM and broking
Bolger will formally take over as chief financial officer role at the start of December, working for Fukakusa for two months before she retires. He joined RBC in 2011 having previously spent over a decade working for PwC in both the US and UK.