Royal Bank of Canada (RY:CA) 24th Annual Financial Services Conference March 24, 2026 9:30 AM EDT
Company Participants
Erica Nielsen – Group Head of RBC Personal Banking
Conference Call Participants
Gabriel Dechaine – National Bank Financial, Inc., Research Division
Presentation
Gabriel Dechaine
National Bank Financial, Inc., Research Division
All right. I’d like to welcome to the stage, Erica Nielsen, Group Head, RBC’s Personal Banking division. And a job you’ve had for just under 2 years now. So thanks for coming to Montreal, Erica. I really appreciate it. And I look forward to this discussion.
Erica Nielsen
Group Head of RBC Personal Banking
Thank you.
Question-and-Answer Session
Gabriel Dechaine
National Bank Financial, Inc., Research Division
And one thing I want to start — kick off with is HSBC Canada. And the reason for that is when it was acquired and subsequent, a lot of the — I think the words the crown jewel is the commercial business, right? I think that — hopefully, I’m not misquoting anybody. So it kind of made us overlook a little bit of the personal banking business that was acquired. We looked at the mortgage business, maybe that one is going to get shrunk because HSBC was a price leader in that. And in short, overlooking the personal banking business of HSBC, which is probably not a good thing. So maybe you can highlight some of the assets you picked up some of the new capabilities and something get excited about with that acquisition on the personal side.
Erica Nielsen
Group Head of RBC Personal Banking
Yes, thanks. Yes, we’ve been really pleased with the acquisition of HSBC for the personal bank. And I know as has the commercial bank. I know we set out to really dramatically change the cost profile of the bank. So if you think about the scale
