Janice Fukakusa will leave her role as chief administrative officer (CAO) and chief financial officer (CFO) with Toronto-based Royal Bank of Canada (RBC) when she retires in early 2017.

Fukakusa joined RBC in 1985 and has held roles in retail and business banking, corporate banking, account management, corporate finance, treasury, strategic development and corporate functions including chief internal auditor. She was appointed CFO in 2004 and became CAO and CFO in 2009, according to the firm’s announcement on Friday.

“Janice’s contributions to RBC and the financial services sector more broadly have been industry-leading,” says Dave McKay, president and CEO of RBC, in a statement. “She played a key role in ensuring the integrity of our financial reporting and efficiency management programs, our compliance with ever-evolving regulatory standards, and the transparency of our financial disclosure for the benefit of investors, retail shareholders, analysts and our clients.

“Her steady hand through market turbulence and her commitment to a strong financial control culture has helped deliver sustainable shareholder value,” adds McKay. “We wish Janice all the best in her upcoming retirement knowing that her leadership has left a lasting impact on our organization.”

Rod Bolger, executive vice president of finance and controller at the bank, has been appointed CFO and will begin in that role on Dec. 1. He will report to Fukakusa until Jan. 31, 2017, when her retirement takes effect. Following that date, he will report to McKay. Bolger’s new role on the executive team will have him contributing to the development of RBC’s overall strategic direction.

Bolger joined RBC in 2011 and his role as a senior financial officer for the wealth management, insurance and investor and treasury services divisions has allowed him to develop a strong understanding of the bank’s business strategies, according to the announcement. Bolger came to RBC from Charlotte, N.C.-based Bank of America, at which he was CFO of global technology and operations.

“Rod’s breadth of knowledge, his global experience in both financial and professional services and his leadership skills will serve him well in his new role,” says McKay. “I look forward to the insights he will offer as he engages in strategic business issues.”

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