RBC cuts 1% staff in U.S. capital markets division, source says

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RBC cuts 1% staff in U.S. capital markets division, source says
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RBC has let go roughly 30 junior staff from the U.S. capital markets team

has cut close to 1 per cent of its capital market staff in the United States as part of its annual performance review, a person familiar with the matter said on Thursday.

A U.S.-based RBC spokesperson said in an email that “minimal cuts” were made to the U.S. investment banking business, in line with “normal attrition.” RBC’s U.S. business includes retail banking, capital markets, wealth management and treasury services and wealth management.

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