RBC finds replacement CFO for Europe

Royal Bank of Canada’s corporate and investment banking arm has appointed a new Chief Financial Officer (CFO) for Europe following the departure of Charles McManus (pictured).

Stephen Krag joined RBC Capital Markets as Europe CFO on 1 April 2011. He replaced previous CFO Charles McManus, who resigned to take up a similar position at Ulster Bank, which he began on 1 March 2011.

McManus left and Krag joined at a time RBC is seeking more of a presence in Europe.

Based in London, Krag will report to CEO for Europe John Burbridge.

Krag moved to the Canadian banking Group after two years as CFO at Daiwa Capital Markets Europe, the European investment banking offshoot of Japanese Daiwa Securities Group.

Before working for Daiwa, he was Chief Operating Officer (COO) at HBOS Treasury Services. Prior to that, he held senior finance roles with NatWest Securities, in its capital markets, equities and global financial market businesses.

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