Royal Bank of Canada has named Donald Sanya chief executive officer of its US asset-management business, making him the first black person to hold this position.
According to Bloomberg, Sanya who joined the bank in 2014 from BlackRock Inc. will take over from Mike Lee, who is set to retire at the end of July.
Following his assumption the office, Sanya will report to Damon Williams, CEO of the Toronto-based bank which serves over 20 million clients.
In his new role, Sanya will seek to deepen relationships with existing institutional clients, pursue additional growth in assets.
“We’re seeing a lot of appetite for fixed income just given that the interest-rate environment that we have is such that investors are able to generate much more return on the fixed-income side,” Sanya said.
Sanya was born and raised in Nairobi. He earned a BA in economics, business and mathematics from Gordon College and holds FINRA Series 7 and 63 licenses.
Additionally, he is a CFA charterholder and a member of the Boston Security Analysts Society (BSAS), and is registered as an Associated Person and Branch Manager with the National Futures Association.
Before being named CEO of the bank’s US asset-management business, Sanya served as the managing director and the head of RBC Global Asset Management’s US institutional business.
In this role, he led the US Institutional business strategy and has accountability and oversight over all Institutional client and sales efforts in the US.
Prior to taking on this role, Sanya was the head of US Distribution and a member of the RBC GAM Leadership Committee, the US Executive Committee and the North America Management Committee.
Further, he is registered as an Associated Person and Branch Manager with the National Futures Association.
Prior to joining the organization in 2014, he was responsible for developing and managing relationships for a major asset management firm’s Institutional Client Business group.
In this role, Sanya assisted investors with portfolio allocations across traditional and alternative asset classes.
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Royal Bank of Canada
The Royal Bank of Canada is a venerable institution with roots tracing back to its founding in 1864 in Halifax, Nova Scotia.
Since its inception, the bank has evolved into one of Canada’s largest banks and a significant player in the global financial landscape.
RBC’s offerings span a diverse array of sectors. For personal banking, it provides an extensive range of services such as savings and checking accounts, mortgages, loans, credit cards, and financial planning guidance tailored to individual needs.
In the realm of commercial banking, RBC caters to businesses of all sizes, from small enterprises to large corporations. Its services encompass lending, cash management, merchant services, and international banking solutions, among others.
Wealth management is another cornerstone of RBC’s operations. Its wealth management division offers comprehensive investment advice, portfolio management, retirement planning, estate planning, and trust services for individuals, families, and institutions.
RBC is also deeply involved in the insurance sector, providing a spectrum of insurance products including life insurance, health insurance, property and casualty insurance and travel insurance, offering protection against a variety of risks.
In the realm of investment banking, RBC Capital Markets stands out as a prominent player. It provides a suite of services including corporate finance, mergers and acquisitions, equity and debt capital markets, and advisory services to corporations, governments, and institutional clients worldwide.
Additionally, RBC Capital Markets offers trading and sales services across fixed income, currencies, commodities, equities, and derivatives markets, serving institutional investors, hedge funds, and corporate clients.
With a strong presence in Canada, the United States, and other international markets, RBC continues to uphold its status as a premier financial institution, serving millions of clients globally with a steadfast dedication to excellence and integrity.
