June 17, 2018
President & CEO of RBC receives Waterloo honorary doctorate
David McKay awarded an honorary Doctor of Mathematics degree.
David McKay (left) and President Feridun Hamdullahpur (right).
For President and Chief-Executive Officer (CEO) of the Royal Bank of Canada (RBC), Waterloo is a familiar place.
Having graduated with a Bachelor of Math in 1987, David McKay returned during Friday’s convocation to receive an honorary Doctor of Mathematics degree. Addressing a room of more than 700 math graduates, McKay emphasized the importance of always dreaming big, but remaining humble.
“I really do believe that the best advice is to just get on the road, build a series of experiences to draw on, be ambitious with the goals you set, but remain flexible on change,” said McKay. “Focus on skills and experiences rather than careers.”
Crediting the University’s co-op program for the lifelong relationship he’s developed with the financial institution he now leads, McKay reflected on his beginnings with RBC, as a nervous (but eager) first-year co-op student. Five years later, and upon his graduation, McKay went on to gain full-time employment with RBC. Today, the Waterloo alumnus oversees operations of Canada’s largest bank, which services 15 million clients and 80,000 employees worldwide.
“I’d be lying if I said that at 22-years-old, coming out of this great university, that I had a plan to be CEO—I didn’t,” said McKay. “But I said ‘why not me?’ and I always kept that at the back of my mind as I progressed through my career.”
Tom Jenkins (centre) awarding David McKay (right) with honorary Doctor of Mathematics degree.
Since then, McKay has helped transform the bank’s retail division and introduced new technology that has enabled RBC to adapt and evolve to rapidly changing consumer demands. He champions Canada’s innovation ecosystem and is leading RBC’s support for and partnership with universities, startups and accelerators.
His second piece of advice to new graduates remains as simple as his first—never stop learning.
“I used this approach to accelerate my career at RBC. In addition to my own job, I always made an objective to learn my boss’ job, and to learn one of my peers’ jobs,” said McKay. “Learning three jobs at the same time helps you understand multiple perspectives and helps you support the people around you.”
To learn more about McKay and his journey with the University of Waterloo and RBC, view page eight of this year’s Global Impact Report.
