Dave McKay has joined Royal Bank of Canada’s board of directors and become president and chief executive of the firm.

Dave McKay has joined Royal Bank of Canada’s board of directors as he becomes president and chief executive of the firm.

McKay succeeds Gordon Nixon, who has retired from the board.

Prior to being appointed as president on February 26, 2014 (see related article here), McKay was group head of the personal and commercial banking segment of RBC, which comprises RBC's personal banking operations and certain retail investment businesses in Canada, the Caribbean and the US, as well as RBC's commercial banking operations in Canada and the Caribbean.

McKay's 26-year career at RBC includes senior roles in retail banking, risk management and international experience in corporate banking.