RBC Bank has named Glenn D. McCoy chief financial officer, the second time this month that the Raleigh-based financial institution has tapped a Wachovia veteran for a top management position.
McCoy was with Wachovia and predecessor bank First Union for 28 years. Most recently he was the chief financial officer of the mortgage and retail credit division at Wachovia, which was acquired last year by San Francisco-based Wells Fargo.
McCoy, who will be based at RBC's corporate headquarters in Raleigh, succeeds Terry Early, who recently retired. The bank has been revamping its senior management as part of its restructuring, which has included an undisclosed number of job cuts, as it strives to return to profitability.
"RBC's financial soundness gives us every opportunity for success and profitable growth," McCoy said in a prepared statement.
RBC, the U.S. subsidiary of Royal Bank of Canada, has 430 branches in the Southeast.
McCoy, 55, is a graduate of Westminster College in Missouri and received an MBA from the University of Chicago.
David Ranii has been a business reporter at The News & Observer since 1993. Over the years he has covered information technology, banking, insurance, the pharmaceutical and biotechnology industries, media businesses and real estate. Contact him at 919-829-4877 or