SMBC, a member of SMBC Group, announced the appointment of Rick Davison as Chief Financial Officer for the Americas.
Hirofumi Otsuka, CEO of SMBC Group in the Americas and President & CEO of SMBC Americas Holdings, Inc., said, “Rick brings to SMBC a superior track record of delivering results and creating and enhancing business and shareholder value. His breadth and depth of experience provide a compelling blend of strategic capital allocation discipline, well-honed operating skills, and transformational leadership abilities. Rick will be a strong partner as we execute our strategic plan and improve our operating results to position SMBC for sustainable, long-term growth.”
“I am excited to lead SMBC’s finance function and collaborate with our senior leadership team to set and execute against our strategy,” said Davison. “We continue to further enhance our controls and oversight of financial processes, as we expand the support of our business growth initiatives and build even further momentum on our transformation journey.”
Prior to joining SMBC, Davison was the U.S. Chief Financial Officer for the Royal Bank of Canada (RBC), where he was responsible for providing primary oversight in the U.S. on all finance-related areas, including capital adequacy, financial planning, financial and regulatory reporting, and general business advisory.
During his tenure with RBC’s Finance Department, Davison was Co-Head of RBC’s CCAR Program within Group Risk Management. This was a joint initiative between the company’s Risk and Finance functions that managed the delivery of CCAR/DFAST for RBC’s Intermediate Holding Company (IHC).
Before the CCAR leadership role, Davison held several increasingly responsible roles since 2008, including as Head of Performance Management, which encompassed regional management reporting, business advisory, budgeting, local board reporting, and financial forecasting.
Prior to his career at RBC, Davison was with Barclays Capital for three years, where he spent time in its New York, London and Singapore offices in various finance roles.
Davison has a Bachelor of Business Administration from Villanova University.