Most Fed members eye rate cuts this year, but splits emerge on next steps
By David French
NEW YORK (Reuters) -RBC Capital Markets has promoted two of its financial services investment bankers to run units advising insurance and specialty finance companies in the U.S., a spokesperson for the bank confirmed on Thursday.
Neil Chawhan has been elevated to head of U.S. insurance investment banking, and Saurabh Monga will now co-lead the U.S. specialty finance business of RBC Capital Markets.
Both Chawhan and Monga have been managing directors within the investment banking arm of Royal Bank of Canada since 2017, according to their respective LinkedIn profiles.
Chawhan’s career before RBC was predominantly at Bank of America, where he spent nearly 16 years, with a stint at Stifel’s Keefe, Bruyette & Woods before joining the Canadian bank.
Prior to RBC, Monga spent nearly 17 years split between Deutsche Bank and Bank of America.
Monga’s stewardship of the U.S. specialty finance team will be alongside Eric Steifman, the investment bank’s co-head of U.S. banks and specialty finance.