Royal Bank of Canada

has hired industrials bankers Kinjal Gandhi and Alex Choi as Canada’s biggest bank continues building out its investment banking franchise.

Gandhi is joining RBC Capital Markets as a managing director from Barclays PLC, while Choi is joining as a managing director from Bank of Montreal, according to an internal memo reviewed by Bloomberg News. Gandhi specializes in industrial technology and electrification, while Choi focuses on capital goods and diversified industrials, according to the memo from Matthew Stopnik, head of global investment banking.

A representative for RBC confirmed the contents of the memo, declining to comment further. Representatives for Barclays and Bank of Montreal didn’t immediately respond to requests for comment.

RBC has been on a hiring blitz since last year as it looks to expand its share of the intensely competitive investment banking market. The firm, which has hired 30 managing directors globally since the beginning of 2025, landed a spate of chunky deals this week, including co-advising TopBuild Corp. on its $17 billion sale to QXO Inc.

The firm also advised Secure Waste Infrastructure Corp. on its $6.4 billion sale to GFL Environmental Inc., as well as First Capital REIT on its $9.4 billion sale to a consortium including KingSett Capital Inc.

Thursday’s memo also highlighted two other recent hires: James Millar, who joined as head of technology, media and telecommunications debt capital markets from JPMorgan Chase & Co., and Patrick Hamer, who joined as managing director in equity capital markets from JPMorgan Chase & Co. to lead origination in energy, power and utilities and infrastructure.

Bloomberg.com