Royal Bank of Canada today announced management changes at its domestic and international banking businesses to better leverage its domestic banking success internationally.

“The excellent growth of our Canadian retail operations demonstrates we are earning more business from new and existing clients, and that we are successfully executing on our growth initiatives,” said Gordon Nixon, president and CEO, in a release. “Today’s realignment sharpens our focus on RBC’s international banking businesses.”

As a result of the changes, Jim Westlake, currently group head, Canadian banking, has been appointed group head, international banking and insurance. Westlake will be responsible for RBC’s banking businesses outside Canada while retaining responsibility for RBC’s insurance operations, providing oversight for RBC’s global credit card business and growing this business through RBC’s international banking and wealth management activities.

“By redoubling our efforts to focus on client service, and product development and innovation in Canada, Jim has been very successful in solidifying RBC’s leadership in the domestic marketplace,” said Nixon. “Jim’s new mandate is to leverage this success in working with our management teams in the U.S. and our rapidly expanding Caribbean operations.”

Dave McKay has been appointed group head, Canadian banking, and will be responsible for continuing RBC’s growth momentum in the Canadian banking marketplace and extending RBC’s competitive strength by providing over 13 million Canadian clients with leading personal and business financial services. McKay, currently head of personal financial services, will be responsible for RBC’s retail banking and online investing businesses in Canada, including RBC’s domestic sales and branch distribution.

McKay will report directly to Nixon and join RBC’s group executive.

RBC’s wealth management, capital markets, international banking, and insurance segments each have mandates to expand outside Canada. “The moves announced today will help RBC further leverage our strength to grow outside Canada,” said Nixon. For the past two years, operations outside Canada accounted for approximately one-third of RBC’s overall revenues.

Peter Armenio, currently group head, U.S. & international banking, has announced his intention to retire.

RBC will begin reporting financial results of its five business segments commencing in the third fiscal quarter, which begins May 1. The five segments are: Canadian Banking; Wealth Management; International Banking; Capital Markets; and Insurance.