Royal Bank of Canada (RY) News & EventsRYRoyal Bank of Canada

Royal Bank of Canada Appoints Quantum Director to Advance Quantum Strategy

Royal Bank of Canada is advancing its quantum strategy with the appointment of a Director of Quantum, the signing of two strategic partnerships with leading Canadian universities and a multi-year roadmap to drive innovation while ensuring quantum-safe operations. Dr. Elizabeth Iwasawa has joined RBC as Director of Quantum. In this newly created role, Dr. Iwasawa will lead a team of quantum researchers and developers and manage the development and buildout of the bank's quantum strategy. RBC has signed two multi-year partnerships to help advance quantum growth at RBC and contribute to Canada's quantum talent pipeline. A partnership with the University of Waterloo's Institute for Quantum Computing which will establish the RBC Quantum Talent Initiative, supporting the next generation of talent in quantum information science and quantum technologies. A partnership with the University of Toronto to help advance quantum growth at RBC and contribute to Canada's quantum talent pipeline, and focus on PhD fellowships and conference sponsorships. In addition, RBC is collaborating with Canadian photonic quantum computing company Xanadu to host a hands-on workforce training program where the team will learn quantum application development using Xanadu's open source frameworks.

Westinghouse Electric Seeks Over $50B Valuation for IPO

Westinghouse Electric, a provider of reactor technology to nuclear power plants that is jointly owned by Brookfield Renewable Partners (BEP) and Cameco (CCJ), is seeking a valuation of more than $50B in its U.S. initial public offering and targeting a public filing as soon as October, people familiar with the matter told Bloomberg's Bailey Lipschultz. Citigroup (C) and Goldman Sachs (GS) are leading Westinghouse's IPO and Canadian Imperial Bank of Commerce (CM), JPMorgan (JPM) and Royal Bank of Canada (RY) are also working on the listing, the report said. The company said in July it had filed confidentially for a listing.

RBC Launches Community Solar Program

RBC announced its RBC Community Solar Program, a new national initiative that can help community organizations launch solar energy projects. "We aim to strengthen communities across Canada and to lower our operational emissions by helping launch more locally sourced renewable power," said Jon Douglas, Head of Climate Operations, RBC. "By tapping into RBC's deep community ties, financial expertise and commitment to renewable energy, we can empower local organizations and make a difference together."