{"id":863981,"date":"2026-08-19T17:20:09","date_gmt":"2026-08-19T17:20:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/863981\/"},"modified":"2026-08-19T17:20:09","modified_gmt":"2026-08-19T17:20:09","slug":"rbc-hires-ex-ontario-minister-caroline-mulroney-as-vice-chair","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/863981\/","title":{"rendered":"RBC hires ex-Ontario minister Caroline Mulroney as vice-chair"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Caroline Mulroney at the state funeral for her father, former prime minister Brian Mulroney, in 2024. RBC tapped the former Ontario cabinet minister for her experience in public service as well as in legal and financial services.Blair Gable\/Reuters<\/p>\n

Royal Bank of Canada RY-T<\/a> has hired former Ontario minister Caroline Mulroney as vice-chair, tasking her with deepening the lender\u2019s relationships with clients and business leaders globally. <\/p>\n

Ms. Mulroney \u2013 daughter of late prime minister Brian Mulroney and formerly one of the highest-profile members of Ontario Premier Doug Ford\u2019s inner circle \u2013 stepped down<\/a> from her seat in the Ontario Legislature in June. RBC tapped Ms. Mulroney for her \u201cunique\u201d experience in public service, legal and financial services, according to an internal announcement viewed by The Globe and Mail. <\/p>\n

As part of her role, Ms. Mulroney will \u201cadvise our business leaders on the implications of evolving government policy, regulatory, and public sector developments for our clients,\u201d RBC head of capital markets Derek Neldner said in a memo. <\/p>\n

Her appointment is taking place at a critical time for Canada\u2019s biggest bank as it expands its businesses in the United States and Europe<\/a> and seeks to bolster its dominance in Canada, which faces trade upheaval and economic uncertainty. <\/p>\n

RBC\u2019s senior leaders have said that foreign companies and investors are increasingly looking for opportunities to deploy capital in Canada amid Ottawa\u2019s ambitions to boost economic growth. Canadian businesses are expanding their reach into markets overseas and Ottawa is diversifying the country\u2019s trade partners. <\/p>\n

\u201cAs I look at the years ahead, the opportunity for connecting clients globally, and in particular between Europe and North America, is probably even stronger going forward,\u201d Mr. Neldner said in a recent interview<\/a> with The Globe. <\/p>\n

\u201cThe role that a Canadian\u2011based bank with global capabilities can play will be even better.\u201d <\/p>\n

Open this photo in gallery:<\/a><\/p>\n

Caroline Mulroney and Premier Doug Ford speak at the Innisfil Police Station, in October, 2022.Arlyn McAdorey\/The Canadian Press<\/p>\n

Ms. Mulroney will focus on connecting clients with RBC\u2019s businesses across capital markets, commercial banking and wealth management. She will join the bank on Sept. 14 and will report to Mr. Neldner. <\/p>\n

She most recently held roles as the province\u2019s Treasury Board president and minister of francophone affairs.<\/p>\n

Ms. Mulroney \u2013 who was raised in the public eye during her father\u2019s nine years as prime minister \u2013 ran for the position of leader of the Progressive Conservatives in 2018, but lost to Mr. Ford. During her eight-year tenure in cabinet, she also served as attorney-general and minister of transportation. <\/p>\n

As president of the Treasury Board, she chaired the committee overseeing Ontario\u2019s $240-billion budget and fiscal plan, and managed internal audit, risk management and accountability across government and more than 130 agencies. She also led the adoption of artificial intelligence solutions across the Ontario public sector. <\/p>\n

Before joining public service, Ms. Mulroney worked in financial services and law. She was a vice-resident at Toronto-based asset management firm BloombergSen Investment Partners. She launched her career in investment banking at Bear, Stearns & Co. Inc., and practiced law at Shearman & Sterling LLP in New York. <\/p>\n

Last week, Canadian Imperial Bank of Commerce CM-T<\/a> announced that<\/a> investment banker and global vice chair Mark Mulroney, the son of the former prime minister, was tapped to lead the lender\u2019s office of the chief executive officer. Known inside the bank as the OCEO, the group is tasked with bringing \u201csenior-level strategic perspectives\u201d to the lender\u2019s clients.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Caroline Mulroney at the state funeral for her father, former prime minister Brian…\n","protected":false},"author":2,"featured_media":863982,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,49174],"class_list":["post-863981","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-streetwise"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/863981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=863981"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/863981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/863982"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=863981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=863981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=863981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}