Jacynthe COTE

01/20/2025

Serving as Chair of RBC has been one of the great privileges of my career – super exciting, constantly evolving, requiring monstrous amounts of agility, resiliency and tenacity from our leadership team and board colleagues.

And you asked about change. We made big, bold pushes into the United States and the UK. And because of the investments we made in people, culture and technology, RBC has been quick to take on new frontiers while continuing to lead in our established businesses. In some ways, the bank I leave is very different – we’re more global, more diverse, and more engaged in the world around us.

But importantly, so many things remain the same. Leo is still on the shield. (laughs) Our brand still stands for powerful values. Our purpose guides us forward. Our institutional devotion to talent and talent development provides us with distinct competitive advantages. We continue to look for ways to create more value for those we serve. It’s our relentless pursuit of progress powered by ideas that will set us apart. I am proud to say RBC has never been more important in our clients’ lives, or in community life. And I know the best days are still ahead of us.

01/20/2025

The importance of organizational intent around creating opportunity. For anyone to reach the executive ranks, an organization must be very deliberate in providing individuals – including diverse candidates — the right experiences and exposure. I became an executive because of the jobs I held. I’d say eighty-five per cent of my career development came from specific work experiences.

The same happened when I joined the RBC Board. I was moved to the risk and audit committees, before chairing the governance committee, all of which were good preparation for this appointment.

When women don’t reach the upper echelons of an organization, it’s often because they’re not set up to gain key experiences.

Women occupy about 23 per cent of board positions in Canada, a significant increase in recent years. Yet less than six per cent are Chairs. Is the final rung on the corporate ladder broken?

01/20/2025

No one could fully foresee the global pandemic, or its impact
on health care systems and national economies. Guided by
its Purpose, RBC was prepared to lead through this period of
uncertainty and disruption.

Bank resources were rapidly mobilized to anticipate and
address the needs of all our stakeholders. Billions of dollars
in financial relief as well as new and extended loans were
provided to clients. We supported our employees working
from home and introduced heightened safety measures to
protect employees who were needed to work on premises.
And RBC invested millions in programs to support our most
vulnerable citizens through the health and economic crisis
in addition to our existing commitments to help local
communities prosper.

Importantly, the strength, stability and operational
resilience of RBC enabled us to keep building the bank of the
future. Investments in talent and technology continued to
differentiate RBC in the marketplace and create even more
meaningful value for those we serve in an increasingly
digital-first economy. Indeed, customer satisfaction levels
reached new heights.

We are confident the strength of our diversified business
model, strong balance sheet and prudent approach to risk
and cost management will help the bank remain resilient
and create long-term value for all our stakeholders.

01/20/2025

01/20/2025

The strong relationship between the board and management proved vital throughout the year. During the first critical months of the crisis, both directors and management understood the
need to be agile, focusing on the key issues impacting the bank, our stakeholders and society as a whole.

Robust communication, including weekly board information sessions, regular written updates and constant dialogue between board and committee chairs and management, proved valuable for directors to effectively carry out their oversight responsibility, as well as pivot quickly to seamlessly support management when the need arose.

Our culture and conduct also played a key role in shaping the bank’s response to the crisis. Board members and senior management championed the bank’s core values and reinforced
the ethical principles on which our trusted reputation and success are founded. By setting the tone from the top, the bank’s response to clients faced with financial hardship was guided by
empathy and understanding.

Our leaders and employees were also supported with resources
to promote personal resiliency and physical and mental well-being.

01/20/2025

In a Canadian first, a research laboratory dedicated entirely to Sanfilippo disease has opened in Montreal, thanks to a $1 million donation from a North York family.

The donation was made by the Sanfilippo Children's Research Foundation, which was founded in 1999 by Elisabeth and Randall Linton, whose daughter, Elisa, was born with the rare, recessive autosomal genetic terminal disease. To date, the foundation, which was developed with the goal of funding medical research to find a cure for Sanfilippo and its related neuro-genetic disorders, has raised more than $7.5 million.

01/20/2025

First of all, we need to sustain the right mix of expertise and leadership style on the board. I want to make sure there’s good debate around the table, and that we work very collaboratively with management.

Obviously, we have immediate priorities such as the acquisition of HSBC Canada, pending regulatory approval. More broadly, the way we work and do things, the way we serve our clients, even the way we welcome newcomers into the community will require us to think and act in new ways. So, we’ve got to have the right people to run and support innovation.

That leads me to talent. It’s always been a big differentiator for RBC. But we must continue to be better at attracting, developing and retaining the best employees. RBC must always be the place where people can become the best version of themselves.

And related to all of this is diversity of thought. Every time people think differently, we should welcome that.

01/20/2025

make sure you take timely and calculated risks, whether you want to ‘put yourself forward’ or just ask for something you need. Start the conversation, so people know what you want to grow, develop and further your career.

That’s especially hard for women to do. Many feel like they must be more than ready to discuss their career ambitions or that it is bad form to advocate for themselves. But speaking up and advocating is largely how the world works, especially when it comes to taking on new roles and responsibilities in business or the community.

I always say, ‘first get the job and then learn how to do every inch of it well.’ After that, wash, rinse, repeat to take your career wherever you would like it to go.