Royal Bank of Canada Looks to Expand Organically in U.S. Following the stock-cash merger deal worth $5 billion of Toronto-based Royal Bank of Canada RY and U.S.-based City National Corporation in Nov 2015, Royal Bank of Canada's Chief Executive Dave McKay intends further expansion in the United States. City National acquisition is a strategic fit for Royal Bank of Canada. The deal has opened up significant opportunities for Royal Bank of Canada to augment its top line by leveraging on City National's high net worth and commercial clients' network as well as expanding its franchise in the U.S.