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RBC Royal Bank of Canada

RBC Royal Bank of Canada
Diversity & Inclusion Companies:
RBC Royal Bank of Canada
About the Diversity & Inclusion Company:
RBC believes diversity & inclusion is an engine for innovation and economic prosperity. By actively using our diversity, we better develop ideas and people, and ensure our company’s continued growth. We do this by creating opportunities that empower people to grow and achieve more. We seek out diverse perspectives, recognizing the value of diversity of thought to challenge the status quo
How this Equity, Diversity, Inclusion focused company manages EDI?:


RBC Diversity Inclusion

The Royal Bank of Canada (Banque Royale du Canada in French) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 16 million clients and has 80,000 employees worldwide. RBC believes diversity & inclusion is an engine for innovation and economic prosperity. By actively using our diversity, we better develop ideas and people, and ensure our company’s continued growth. We do this by creating opportunities that empower people to grow and achieve more. We seek out diverse perspectives, recognizing the value of diversity of thought to challenge the status quo

Companies thrive when they are open to new ideas and new people. As do economies and our world. That is why the world’s most innovative businesses, cities and economies are the most diverse. Diversity and growth are not just integrated, but inseparable. This belief is at the heart of RBC’s Value of “Diversity & Inclusion – We embrace diversity for innovation and growth”. For us, diversity has long been a gateway to the world, and to success. At a time of both challenges and opportunities in the world, rather than turn inward, we believe that there’s a growing need to shine a light on diversity & inclusion.
We believe a powerful recipe for success is the combination of what each of us brings as unique individuals together with a common purpose and goals. That leads to new insights and innovation. By coming together and sharing our unique perspectives, we grow as an organization and as individuals. This helps RBC attract and retain the best talent. And it helps us better serve and meet the needs of our increasingly diverse client markets.
Diversity & inclusion is a key enabler in bringing to life RBC’s purpose of helping clients thrive and communities prosper. We’re proud of the progress we’ve made and we’re also motivated by a strong sense of what is still to come.
We believe diversity & inclusion strengthens us and we are committed to taking actions to make sustainable progress in our company and the communities we serve.

Dave McKay
President and CEO

RBC a company made up of talented and dedicated people. People who invest their skills, energy and passion into making us the successful organization we are today, and the one we will be tomorrow. A diverse and inclusive workforce creates equitable opportunities for all employees to reach their potential, regardless of personal identities.

RBC’s Diversity & Inclusion vision is to be among the most inclusive workplaces and successful companies, putting diversity into action to help employees, clients and communities thrive. RBC has long believed that diversity is not only the right thing to do but also the smart thing to do. We understand the ethical case for ensuring equal opportunity for all and also the tangible social and economic benefits of inclusion.

RBC’s Europe Board Diversity Policy

Aligning with RBC’s values, we embrace diversity for innovation, growth and success. In keeping with our business imperative to attract and retain the best talent, the Board recognizes the benefits of promoting diversity, both within RBC Europe Limited and at the level of the Board of Directors. We are committed to diversity and inclusion at all levels, as this provides RBC with access to a wider pool of talent and drives creativity, innovation and growth.

The Nomination Committee considers qualified candidates for board membership, and reviews board composition and any anticipated board vacancies, in light of the Bank’s diversity objectives. Diversity is a critical lens through which the Committee assesses a board candidate’s merit in seeking representation on the Board of the full range of characteristics necessary to meet our goals of excellence, innovation and success. Pursuant to our commitment to a balanced and diverse board, diversity of gender, age, geography, background and ethnicity are always important factors considered by the Nomination Committee.

Diversity and Inclusion

1968 Georgette St. Cyr was the first woman to be appointed as a Royal Bank branch manager (Place Longueuil branch, Montreal, Quebec).
1976 Mitzi Dobrin was the first woman to be appointed to Royal Bank’s Board of Directors.
1977 Task Force on the Status of Women – CEO Rowland Frazee commissioned this task force in response to concerns expressed by women employees. The task force’s recommendations dealing with mobility, training, and assessment of job opportunities for women still form the basis of policies in these areas today.
1979 Suzanne Labarge was the first woman to be appointed as a Royal Bank executive.
Royal Bank established an Equal Employment Opportunity program, the first of its kind for a Canadian bank.
1982 Targets for recruiting, training and promoting women were established.
1987 The first Royal Bank Employment Equity survey was conducted to assess our workforce representation of the four designated groups in Canada: women, visible minorities, people with disabilities and Aboriginal peoples.
1988 The percentage of Royal Bank employees in Canada who are women reached 75%.
1994 Closing the Gender Gap awareness initiative was launched to increase effectiveness in dealing with and respecting gender differences.
1996 Royal Bank expanded its efforts to help capitalize on the broad-based diversity of its workforce and market by establishing a Diversity Business Council with the mandate to develop an action plan to help close the gender gaps between the current and desired states.
1998 The Employees with Disabilities Advisory Council is established to promote a better understanding of the abilities and needs of Royal Bank employees and clients with disabilities, to make recommendations on the elimination of barriers to marketplace and workplace opportunities and to provide tools and resources to support increased representation of people with disabilities throughout Royal Bank.
1999 Suzanne Labarge was appointed Royal Bank’s first female Vice-Chairman.
2004 Janice Fukakusa was appointed Royal Bank’s first female Chief Financial Officer.
2006 Royal Bank expanded the number of employee resource groups, including PRIDE and REACH, supported by the delivery of cross-cultural training and diversity mentoring.
Royal Bank sponsored an ongoing study of women in capital markets with Catalyst Canada, tracking the impact of efforts to increase the representation of women in the industry.
2007-2008 Royal Bank introduced a visible minority and newcomer to Canada employee resource group, MOSAIC, and also established a scholarship program for new Canadians.
2009 Building on the successes and lessons of the past, Royal Bank published the Diversity Blueprint setting out priorities, objectives and commitments relevant to leveraging diversity as a business priority.
Royal Bank received the prestigious Catalyst Award for Diversity, an annual global award given to companies with an exceptional commitment to women and minorities.
Royal Bank established RBC Academy a unique program providing both learning and development opportunities for talented teenagers in the United Kingdom.
Royal Bank launched the first Aboriginal Corporate Social Network (ACSN), its first social network for employees who are part of or are involved in the Aboriginal community.
Royal Bank established it first chapter of RWoman in Toronto, Ontario with subsequent chapters launched in New York (2011) and London, England (2012). RWoman is an employee led networking forum dedicated to fostering the development and career aspirations of Royal Bank’s female employees.
2011 Heather Munroe-Blum, principal and vice-chancellor of McGill University in Montreal and Bridget van Kralingen, general manager of North America for IBM Corporation in New York, were appointed to the Board of Directors, bringing the number of women on the 16-member Board to five.
2012 Royal Bank signed the Catalyst Accord, supporting a call to action for Canadian corporations to increase the overall proportion of “FP500” board seats held by women to 25 per cent by 2017.
  • RBC Royal Bank of Canada

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