Synergising, disrupting and thinking outside the box are not just corporate buzzwords, they are proving to be the difference between a company thriving versus one that is just surviving.
While it might sound clichéd, when people are encouraged to collaborate across a business, they work 15 per cent faster and feel significantly more satisfied. Not only are they happier, 60 per cent are more innovative and 73 per cent produce better work, according to a report by global consultants Deloitte.
Thanks to cloud computing, tools powered by artificial intelligence (AI) and real-time collaboration platforms any organisation can easily connect employees across the business, but where it really makes a difference is in the attitude at the top.
“Rapid technological change and digital disruption are challenging traditional operating models and creating opportunities for organisations to establish more effective ways of working,” says report author Tharani Jegatheeswaran.
Developing the right mindset
For executives, it means they cannot rely solely on experience and expertise. They need a mindset that enables agility and creativity and encourages innovation and collaboration among teams to solve challenges, says Jegatheeswaran.
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For companies like Royal Bank of Canada (RBC), that attitude has long been in place. With a global presence and a values-based culture built on collaboration, RBC stands out as a forward-thinking workplace, says Sean Miller, head of global investment banking, Australia.
Reflecting this, the bank has been recognised in this year’s Australian Financial Review Best Places to Work rankings.
“Our ability to collaborate both locally within our Australian team and globally with partners is a key differentiator for us, especially in handling complex, cross-border transactions for our clients,” he says.
A recent example of the power of collaboration can be seen in the appointment of RBC by Queensland Treasury Corporation (QTC) as joint Sustainable Finance Co-ordinators to support the update of QTC’s Green Bond Framework, says Natalie Vanstone, RBC’s head of global markets, Australia.
“It’s about being able to leverage our global experiences to provide local solutions,” she says.
“We didn’t just bring in our sustainability team: we combined internal expertise with a deep understanding of global and client-specific sustainability needs, so we were able to deliver a holistic solution that reflects our commitment to both our clients and our own sustainability practices,” Vanstone says.
Building a corporate presence on values
RBC is Canada’s leading bank and among the biggest banks in the world based on market capitalisation of $C230 billion. It employs more than 98,000 people globally and serves more than 19 million clients. In Australia, RBC’s presence is through its investment banking arm, RBC Capital Markets, one of the top 10 investment banks globally.
“Australia is strategically important to RBC,” says Miller. “We’ve been here for more than 30 years. We understand the market and when we work with clients, we share our local expertise along with RBC’s global scale and capabilities.”
Royal Bank of Canada employs more than 200 people in its Sydney and Melbourne offices, and has been involved in some of the Australia’s biggest corporate transactions.
The team, comprising more than 200 people in RBC’s Sydney and Melbourne offices, has been involved in some of the country’s biggest transactions, including the $24 billion acquisition of data centre company AirTrunk by Blackstone and CPP Investments; the $2.2 billion merger between Silver Lake Resources and Red 5; and Goodman Group’s recent $4 billion capital raising, the second largest corporate institutional placement ever in the Australian market.
“The high-performance, client-facing nature of the business, with its deadlines and extensive interactions, definitely appeals to people,” says Miller.
“But it’s not just about intensity and performance; the collaboration, integrity and teamwork we emphasise are equally crucial and set us apart as a truly unique and differentiated business,” he adds.
Lisa Zhong, a director with responsibility for renewables, utilities and energy transition coverage, says RBC’s global connectivity is key to her role as capital continues to flow into the global energy transition.
“It’s a dynamic environment with collaboration across teams in New York, Toronto, London and Hong Kong,” Zhong says. “We make sure our clients are getting the best of RBC globally.”
Demonstrating a company’s values
Collaboration extends to internal opportunities, says Blair Wark, chief country officer, RBC Capital Markets Australia. Various charitable initiatives, including a longstanding commitment to Ronald McDonald House, Lou’s Place and Youth Off The Streets, give employees an opportunity to work together on community projects, often bringing people together from different teams.
RBC employees are dedicated to the bank’s charitable initiatives.
In 2024, RBC partnered with TCS Sydney Marathon and joined forces with RBC Race for the Kids, raising important proceeds for its key charity partner. Since its inception in New York in 2009, RBC Race for the Kids has expanded to 29 countries, bringing together more than 470,000 participants and raising over $C104 million in global fundraising to support youth-focused charities.
“It’s not just about donating money; it’s about building real partnerships,” says Wark. “These charitable initiatives are highly valued by our employees and are a key part of what sets our culture apart.”
“Everyone appreciates the opportunities to demonstrate our values,” adds Jeff Johnson, director, rates trading, global markets. “Our volunteers leave these engagements with a greater sense of the impact RBC makes in the community – they also appreciate the opportunity to collaborate on something really important to them.”
