Bay Street legal recruiters say they believe there were definitely good internal and domestic candidates for the job but RBC’s decision to go with someone with broader global experience is a trend they have been seeing for a number of years.

“I know RBC had some very strong internal candidates and there are also some very strong domestic candidates they could have considered but I also understand the decision,” says Carrie Heller of The Heller Group.

“It’s an increasingly global market and I think financial institutions are responding to that new reality. He [Onorato] has a very impressive background and you can see why he can bring in a fresh perspective, new strategies, and objective analysis of the bank’s operations.”

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