TORONTO _ The Royal Bank of Canada has fired the head of its U.S. capital markets division for violating its policies about relationships with fellow employees.
Blair Fleming didn’t comply with the bank’s disclosure and conflict of interest policies relating to workplace relationships, spokeswoman Gillian McArdle wrote in an email.
She says Canada’s largest bank investigated and acted promptly after the matter was brought forward.
Fleming was the American CEO of RBC Capital Markets and US head of investment banking and oversaw all the division’s businesses in the U.S., says his LinkedIn page.
Fleming, 56, began his career with Royal Bank in 1986 in London, Ont., and moved to New York City in 2009, where he and his wife live with their four daughters.
In its 20-page code of conduct, the bank says working relationships could cause conflicts of interest if they can “favourably impact compensation, work conditions or promotion prospects of a close friend or family member.”
It says there is no substitute for good judgment and common sense and says employees should speak to a manager if they have doubts about a relationship.
The policy also says employees have a responsibility to speak up if they witness or experience inappropriate behaviour.