You are here

Quiet time at RBC says Sookoo

Sunday, February 16, 2014

Royal Bank of Canada (RBC) chief executive officer Suresh Sookoo is maintaining the company’s corporate policy of a “quiet time,” even in the face of numerous reports of uneasy customers. In a brief interview with the Sunday Guardian yesterday, Sookoo said the company would remain in its “quiet time” up until February 26, 2014, when it will release its first quarterly financial results. “I am asking the media to respect that,” he said.


Sookoo’s call for respect comes days after reports surfaced that the bank was soon to be bought by a British-based financial giant. In those reports, Sookoo denied that a buy-out was in the cards. The bank changed hands seven years ago when RBC acquired RBTT Financial for $13.7 billion. To add fuel to the reports, just earlier in the month RBC “shed” 20 staff members as part of its move to “streamline operations” in its Business Development Unit at various branches across the country.


Sookoo blamed the representing union, Banking, Insurance and General Workers Union (BIGWU) for starting the rumours of a buy-out,  but BIGWU head Vincent Cabrera said  the union’s claim for recognition has not yet been approved by the bank. “The claim for recognition has been held up for two years,” Cabrera said. —



Renuka Singh


User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.

Guardian Media Limited accepts no liability and will not be held accountable for user comments.

Guardian Media Limited reserves the right to remove, to edit or to censor any comments.

Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.

Before posting, please refer to the Community Standards, Terms and conditions and Privacy Policy

User profiles registered through fake social media accounts may be deleted without notice.