(Bloomberg) -- Royal Bank of Canada’s trading business has “a big opportunity” to take more market share, Chief Executive Officer Dave McKay said.

RBC Capital Markets, which is heavily focused on the US, currently ranks 15th in trading, and “there’s no reason” the operation couldn’t rise to No. 10, McKay said at a Bank of Nova Scotia financial-industry conference Wednesday.

“We could do a lot better on the markets side,” McKay said.

An expansion of Royal Bank’s trading operations would come alongside the company’s plans to bolster its investment-banking business with hires of more senior bankers, he said. RBC Capital Markets CEO Derek Neldner said earlier this year that the bank was looking to add to its team at a similar pace as in 2021, when it hired 25 managing directors globally.

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