2014 Diversity And Inclusion - RBC
2014Diversityand InclusionReportInsideOur Valuesserviceteamwork04Our Approach06Leadership10Talent and ersityintegrity
A Message from Dave McKayPresident and CEO and Chair, RBC Diversity Leadership CouncilWhy does being a diverse organization and encouragingdiversity of thought matter to us? Simply put diversitydrives growth and innovation and at RBC innovation helpsmove us forward.We live in a fast-paced world that is getting more andmore complex. Having diversity and inclusion embeddedin everything we do helps us bring the best of RBC to ourclients and helps prepare us for what the future holds.We all have something unique to offer. Each of us bringsa perspective that is shaped by our individuality. Gender,race, ethnicity, education and experience are all elementsthat influence the way we see and think about the world.Making the most of this wide range of perspectives andabilities is the key to discovering and implementinggreat ideas.I want to thank my fellow RBCers who continue to makeC DIVERSITY LEADERSHIP COUNCIL MEMBERSIn my travels over the past year since I took on my role– GordonNixonas CEO, I’ve beenChairimpressedby thelevel of commitmentPresident & CEORBCers have around diversity and inclusion. I’ve had theopportunity to visit and meet with many employees acrossthe globe and I continue to be inspired by how diversityis a source of passion and pride, and drives a positivedifference both inside and outside RBC.our company a more open, welcoming and inclusiveorganization – inspiring others, demonstrating howimportant inclusion is to our success and helping makeRBC a place where everyone is respected for who they are.RBC DIVELEADERSHIPCI look DIVERSITYforward to what the future bringsand where ourRSITY LEADERSHIP COUNCILRBCMEMBERSdiversity and inclusion journey leads us.stindent,andctor,ationRBC DIVERSITY LEADERSHIP COUNCIL MEMBWayne BossertRBC DIVERSITY LEADERSHIP COUNCILMEMBERSBolgerAnd I’m proud to see how ourRodleadersare setting theSenior Vice President,tone. This includes havingtheconfidenceand openness& ControllerChair – FinanceGordonNixonto overcome our unconscious biases that may prevent usPresident & CEOChair – ofGordonNixonfrom getting the best talent and the benefitsdiversityPresident&CEOof thought.wnZabeen Hirjident,andicesnt &ancementChair – Gordon NixoPresident & CEShari AustinChair – Gordon NixonPresident & CEOPatti ShugartChief HumanResources OfficerVice President,Corporate Citizenship andExecutive Director,RBC FoundationManaging Director andHead of Global CorporateBankingShari AustinRod BolgerShariDiversityAustin Andrea BolgerRBCVice President,Head,Corporate ouncilShari AustinExecutive Director,uwaExecutive Vice-PresidentSales, RBC CanadianBankingDave McKayFebruary President2015 & CEO,Royal Mutual Funds Inc.BolgerAndreaBrownRod BolgerWayne Bossert MonicaSenior Vice President,Vice President,Head,Senior Vice President,Executive Vice-PresidentSenior Vice President,Group ArchitectureandFinance& ControllerSales, RBC CanadianCorporateCitizenship andFinance & ControllerBusinessFinancial ServicesAndrea BolgerSolution Delivery ServicesBankingExecutive Director,Canadian BankingCanadianViceBankingPresident,Head, President & CEO,SeniorRBC FoundationRBCFoundationSamuelSureshSookooRoyal Mutual Funds ervicesFinaCEO,Chief Executive OfficerExecutive Director,Canadian BankingAustinRod BolgerWayne BossertBankingMonica BrownZabeen HirjiCaribbeanRBC Capital Markets esident,ExecutiveVice-PresidentSenior Vice President,Chief Humanand Head of RBC InvestorCorporate CitizenshipFinance & ControllerSales, RBC CanadianGroup ArchitectureResources Officer&TreasuryServicesWilliamOnuwaMonica BrownZabeen HirjiPatti Shugartand Executive Director,Banking, President &and SolutionSenior Vice President &RBC FoundationCEO, Royal MutualDelivery ServicesSenior Vice President,Chief HumanManagingDirectorandMorteza MahjourZabeen HirjiFundsPattiShugartInc.Group Architecture andMorteza MahjourResources OfficerHead of Global Corporate Head of InsuranceChiefHumanChiefManagementInformation &Managing Director & Head,Solution Delivery Services Chief Information &Banking RiskZabeen HirjiOperations OfficerChairJenniferToryChief HumanDave McKayRegionalPresident,President andResourcesCEOOfficercottdent,rcesWilliam OnuwaSenior Vice President &Head of InsuranceRisk ManagementGreater Toronto Region,Personal &Commercial BankingHarryOperations Officer PManaging DCoDeputy HeaOperations OfficerBritish Isles & CaribbeanHarry SamuelSuresh SookooPer ScottVice President,CEO,Chief Executive ketsEuropeWilliam OnuwaStuart RutledgeHarry SamuelPer ScottPatti OnuwaHarrySamuelSamuelSuresh SookooHuman ResourcesPresident & HeadBritishIsles &Treasury Services and& Head of Global& TreasuryServicesChiefExecutive OfficerSeniorVicePresident &Chief ExecutiveOfficerof InsuranceWilliamOnuwaRisk ManagementRBCSeniorCapitalMarkets,Vice President &EuropeHead ofInsuranceManagement2 2014ReportPerDiversityScottand InclusionRiskVice President,Human ResourcesResources eChiefInformationDeputy Head,GlobalCredit&Head, RBC lExecutive CommitteeHead of InsuranceCaribbeanBankingChief Executive OfficerRisk ManagementCaribbeanJennifer ToryRegional President,Greater Toronto Region,RBC Capital Markets,EuropeStuart RutledgeHead, RBC WMBritish Isles & CaribbeanCorporate BankingSurRBC Capital Markets,Chief EEuropeCar
A Message from Zabeen HirjiChief Human Resources OfficerWe often say “Diversity Works Here.” Let me explain why.For this reason diversity and inclusion is embedded in ourday-to-day business activities.It starts and stops with RBCers, who bring our diversityand inclusion story to life.It goes beyond recognizing and appreciating differencesin culture, ethnicity, gender, age and sexual orientation.It’s about seeking out diversity of thought and activelyincluding different perspectives. It’s about employeesfeeling valued and respected for who they are,and encouraging them to speak up and share theirdiverse views.Our network of diversity champions is made up ofthousands of employees and leaders who exemplifywhat we value in diversity and inclusion. Not only do theyenrich the experience of their colleagues and make ourbusiness stronger, they also create prosperity for ourclients and the communities where we live and work.Diversity and inclusion is about everyone. I hope you willlook through this report to learn about many inspiringRBCers on the road to achieving their true potential –and showing us why “Diversity Works Here.”Who we are, where we come from, and what we’veexperienced influence the way we perceive the worldand solve problems. The combination of sharing RBC’svalues and being different makes us stronger. That’s whywe invest in diversity.We know that we have a responsibility to build upon thegains of the past, expand our commitment and efforts,and break barriers that prevent us from achieving ourfull potential as individuals, as an organization andas nations.Zabeen HirjiFebruary 2015The RBC Diversity NetworkA valuable resource of leaders, champions and grassroots supportersRBC Diversity Leadership Council (DLC)Dave McKay, President & CEO and RBC DLC ChairBusinessCouncilsPersonal &CommercialBankingDLCWealthManagementGlobal DiversityAdvisory CouncilCapital MarketsGlobal DiversitySteering CouncilTechnology &OperationsDLCHuman Resources,Brand &CommunicationsDLCOffice of CAO/CFO DLCInsuranceDLCGroup RiskManagementDLCCaribbeanBankingDLCInvestor &Treasury ServicesContinental Europe& Offshore DLCU.S. CAPITAL B(Women’sAdvisoryBoard)U.S. WEALTH MANAGEMENTWITO(Women inTechnologyandOperations)REACH(Persons withDisabilities)MOSAIC(VisibleMinority &Newcomersto Canada)ROYALEAGLES(AboriginalEmployees)PRIDE(Proud RBCIndividualsfor Diversity& Associationof e)WAB(Women’sAdvisoryBoard)PRIDE(Gay, Lesbian,Allied RE(WorkingFamiliesNetworkingGroup)PRIDE(Lesbian, Gay,Bisexual ticulturalEmployeeAlliance)2014 Diversity and Inclusion Report 3
Our ApproachOur Vision:The Case for Diversity and InclusionDiversity goes well beyond basic definitions and meetinglegal requirements.Having diversity is just one part of the story; how well that diversityworks together is the key. Our approach includes fostering inclusion,leveraging diversity of thought and the principles of human equity.This is looking at a person as a whole – not just their education,physical characteristics, cultural background or work experience,but how all the elements work together.Diversity and inclusion represent incredible business and economicpotential. Innovation is spurred by different perspectives. Withdemographic and population shifts, globalization, advances intechnology and communications, we believe diverse perspectiveslinked in common purpose can drive innovation and growth forcompanies and economies around the world.Diversity Works Here because across our company we know it’s theright thing to do and the smart thing to do.The RBC Diversity BlueprintThe Diversity Leadership Council continued to makeprogress on the RBC Diversity Blueprint 2012-2015 whichoutlines our priorities, goals and commitments in Canada,the U.S. and internationally.To have a diverse workforcein an inclusive workplacethat unleashes the talentsof all employees to createvalue, deliver a superiorclient experience and developinnovative solutions for themarkets and the communitieswe serve. By helping ouremployees, clients andcommunities succeed withand through diversity,RBC intends to help createbetter futures for its manystakeholders.Our Integrated Model forDiversity & InclusionTalent &WorkplacePeople, Culture,Work Environment2012-2015 Diversity Objectives To be a recognized leader in workforce diversity, To be the financial institution of choice for diverseclients, and To leverage diversity for the growth of RBC and thesuccess of the clients and communities we serve.Diversity forgrowth andprosperity:MarketplaceClients, Products,Services, Marketing,Channel, SupplierDiversity4 2014 Diversity and Inclusion ReportHelping createbetter futuresCommunityCorporate Citizenship,Community Leadership
View the complete RBC Diversity Blueprint at www.rbc.com/diversity/Key Pillars and PrioritiesOur ProgressThe foundations of diversity and inclusion at RBC arerespect for all individuals, and a belief that we are betterwhen everyone can reach their full potential.The composition of our workforce is an importantmeasure of how well our diversity efforts are working.Our support for diversity is broad, multifaceted andincludes many perspectives.We’ll achieve our objectives by enhancing diversity andinclusion in three key areas – Talent and the Workplace,Marketplace, and Community – and by focusing onselective priorities to accelerate results.In particular, we support the employment, financialservices and community needs of: Women Minorities Newcomers to Canada Aboriginal and indigenous peoples Persons with disabilities Lesbian, gay, bisexual and transgender (LGBT) people Youth.Implementing the full spectrum of initiatives in theRBC Diversity Blueprint is a journey that takes longterm commitment. With visible leadership, clearaccountabilities, employee involvement, collaborativepartnering and open communication – these ambitiousachievements are within our reach.91%of employees feelrespected at work.20142013200663%64%70%Women in middle managementand above46%46%46%Women in executive roles38%37%34%32%31%24%Visible minoritiesin middle management and above32%31%21%Visible minoritiesin executive roles16%15%9%People with disabilities4.6%4.6%3.2%Aboriginal peoples1.5%1.5%1.6%WomenVisible minoritiesFigures represent Employment Equity data as a percentage of the number of employees(full-time and part-time) at RBC as of October 31, 2014 in our businesses in Canadagoverned by the Employment Equity Act. Given variations in legal definitions andrestrictions in legislation around the world, comprehensive data on these fourdesignated groups (women, visible minorities, people with disabilities, Aboriginalpeoples) is available only in Canada.In Canada, visible minorities are defined as persons (other than Aboriginal peoples)who are non-Caucasian in race or non-white in colour.90%of employees feel they havesufficient flexibility to meetpersonal/family needs.2014 Diversity and Inclusion Report 5
LeadershipSenior leadership commitment and accountability are essential for a diverseand inclusive work environment. Leaders who respect and support the differencesof others and reflect those values in their work and relationships drive the growth andinnovation of our business.Spotlight on RBC’s Active LeadersKris Depencier, Vice President, PersonalLending & Client Strategies, CanadianBanking, has been instrumental inbringing together National Officeemployees to support diversity andinclusion across RBC with the creation ofthe National Office Diversity LeadershipCabinet. As the head of Newcomer and Student segmentswithin RBC, Kris also actively supports diversity in thecultural markets we serve to meet and address the uniqueneeds of a diverse marketplace. She is active in thecommunity and has held many roles including Chair of theGlobal Banking Alliance for Women.Jeff Boyd, Regional President,Alberta & Territories, CanadianBanking, and an activeparticipant with Royal Eagles,was recognized with thehighest honour at a specialluncheon by the HonorableDr. Regional Crowshoe who,after prayer, sang the Eaglesong, blessed the Eagle Feather, and gave it to him. Jeff’sextensive support of the Dawn Adams Back Pack programhas helped give hundreds of students a chance to go toschool with the tools they need to succeed.Sian Hurrell, Head of Fixed Incomeand Currencies, Europe, was featuredin Financial News’ FN100 Women, anannual selection of the most influentialwomen executives working in financialservices across Europe, the Middle Eastand Africa. In the article, she discussesmaintaining a healthy work/life balanceand her time at RBC Capital Markets, including her rolein expanding RBC’s fixed income business in Europe.Sian was also recognized for being a member of the U.K.Diversity Committee and a sponsor of the LGBT Pridenetwork in the U.K.6 2014 Diversity and Inclusion ReportHarry Samuel, CEO, RBC Investor &Treasury Services and Chairman,European Executive Committee, Chairof the U.K. Diversity Council, has been acatalyst for change from hosting careerprogression events to helping set upvarious employee resource groups toestablishing a regular diversity and inclusion newsletter.“I am proud of the way that we haveall embraced RBC’s Value of Diversityin London. The European OperatingCommittee is committed to an open,inclusive and equitable workplace whereall employees can bring their whole selvesto work.”For the second year in a row, JaniceFukakusa, Chief Administrative Officerand CFO, was named one of the 25Most Powerful Women in Bankingby American Banker Magazine. Shewas recognized for her professionalachievements and commitment tomaking a difference in the industryand in the community, noting her active promotion ofdiversity. She also received Canada’s CFO of the YearAward from CPA Canada for contributing to business inCanada with quality, insight and direction.Gord Nixon, former president & CEO,RBC, was selected as the inauguralrecipient of the BreakthroughLeadership Award from AMOI Magazinefor his contribution and impact onensuring diversity is leveraged asstrength, not just within RBC, butacross Canada.
Zabeen Hirji receives 2014 Catalyst Canada HonourIn October, Catalyst Canada honoured Chief Human Resources Officer Zabeen Hirji for her ongoingleadership in advancing women and minorities in business. She is a member of the global RBC DiversityLeadership Council and introduced RBC’s Diversity Blueprint and several impactful initiatives to attract,develop and retain a diverse workforce at all levels. Externally, she has served as co-chair of the TorontoRegion Immigrant Employment Council, as a member of the Governing Council for the University ofToronto, director of the Greater Toronto CivicAction Alliance, and a volunteer for the United Way.Recognizing RBC women leadersOur goals are to attract and retain talented women, develop and advance women in leadership roles, providefinancial services to meet the needs of women, and back community initiatives that support women. Here are someof the RBC women who have been recognized for their leadership and commitment to excellence.Emily Jelich, Vice Presidentand Associate GeneralCounsel; Linda Mantia,Executive Vice President,Digital, Payments & Cards;Kim Mason, RegionalPresident, Greater TorontoRegion; and Kathleen (Katie)Taylor, Chair of the Boardat RBC, received a Top 100Women award from theWomen’s Executive Network(WXN). This award espouses the traits of bold leadershipand recognizes the diverse contributions of theseinspiring women.Linda Mantia was also one of three women to receivethe 2014 Women in Payments Award for Leadership.The award honours women who demonstrate a keenability to inspire and motivate excellence, leadership,creativity in others.Melissa Clark, Wealth Advisor at RBCDominion Securities, was namedProfessional Businesswoman of the Yearby Ottawa’s Women’s Business Network.In addition to her professional work, sheis an active volunteer with Project TEMBO that provideseducation and business opportunities for girls and womenin Tanzania.Cathy Preston, Head of Life & Health,RBC Insurance, was named one of the Top50 Women of Influence by Insurance &Investment Journal, a financial servicespublication. Cathy is a thought leaderin the industry and one of RBC’s mediaspokespeople offering tips and advice and last year wasfeatured in the Globe and Mail.Lisa Pollina, RBC Capital Markets ViceChair, was honoured by American BankerMagazine as one of the Most PowerfulWomen in Finance. Over her career, Lisahas represented the interests of the UnitedStates at NATO-related meetings during the tenures ofboth President Clinton and President Bush.Catie Tobin, Head, RBC Correspondentand Advisor Services, Minneapolis,was featured in the premier issue ofSAYRA, an online magazine for womenFinancial Advisors.Patricia Baum and Ann MarieEtergino, Financial Advisors,from Annapolis and ChevyChase respectively, werehonored in the FinancialTimes’ 100 Top WomenAdvisors List.Carol McNamara, Vice-President, AssociateGeneral Counsel and Secretary of RoyalBank of Canada, is a 2014 Lexpert ZenithAward winner. These awards celebratelawyers who demonstrated excellence andthought leadership, setting new standardsfor the legal profession.2014 Diversity and Inclusion Report 7
LeadershipLeading the WayTo serve the market you musthire the marketHiring new immigrants has long been part of RBC’s businessstrategy and we have partnered with the Toronto Region ImmigrantEmployment Council (TRIEC) since its inception in 2003. GordNixon and Zabeen Hirji have served as TRIEC Chair and Co-Chairrespectively for six years and TRIEC thanked Gord at the awardsceremony for his visible leadership and tremendous contributionto advancing immigrant integration. Dave McKay, current RBCPresident and CEO, is now the TRIEC Chair.“A diverse and inclusive company is stronger,more innovative and better prepared forthe future.”Dave McKay, President and CEOAs well, Emiliano Mendez, Manager of Str
4 2014 Diversity and Inclusion Report Our Approach The RBC Diversity Blueprint The Diversity Leadership Council continued to make progress on the RBC Diversity Blueprint 2012-2015 which outlines our pr
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inclusion and diversity initiatives and events. Celebrating Inclusion and Diversity at McMillan Inclusion and Diversity Award In 2017, McMillan launched an Inclusion and Diversity Award which recognizes, on an annual basis, the contributions and efforts of a firm member who demonstrates a commitment to advancing diversity and inclusion at McMillan.
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