Royal Bank of Canada announced plans to grow its presence in British Columbia by expanding the Vancouver banking and innovation hub. Since its opening last November, the hub has contributed to the city's vibrant tech ecosystem, offering meaningful employment in high-demand technology fields and commercial banking. It expands Royal Bank of Canada's current Vancouver Borealis AI hub, and integrates AI capabilities across cloud, cyber, digital and analytics to accelerate innovation.

The hub will also serve key client groups within the bank's commercial banking business. Located downtown, the Vancouver hub is expanding from 350 employees currently to 600 employees by the end of the year. By 2029, Royal Bank of Canada's goal is to have 1,000 quality jobs supporting the hub across the province, with 440 of those being net new roles.

The expanded hub hosts a wide range of positions, including specialized technology roles in high-demand areas including AI and machine learning, cybersecurity and data science and targeted tech support for functional teams. It also includes growth in Royal Bank of Canada's Vancouver Borealis team, which is widely recognized for scientific excellence in AI using cutting-edge science to build machine learning products. The Vancouver location is the latest addition to Royal Bank of Canada's global network of technology hubs and innovation labs in places like Toronto, Calgary, Montreal, Halifax, Minneapolis, New York and London. The Vancouver hub is also home to teams in commercial banking supporting a wide range of roles from early talent to senior leadership levels.

It serves as a centre of expertise on North America's west coast, offering commercial banking services to Royal Bank of Canada clients both locally and globally.