David Dunlop

David Dunlop, senior vice-president of global custody services at Royal Trust in Toronto is moving to a new role at the organization.Dunlop will represent Royal Trust and Royal Bank on major external industry projects and continue his involvement in relationship management and sales activities with key clients and prospects.Replacing Dunlop is José Placido, who is currently vice-president, client service delivery and relationship management.

David Dunlop, senior vice-president of global custody services at Royal Trust in Toronto is moving to a new role at the organization.Dunlop will represent Royal Trust and Royal Bank on major external industry projects and continue his involvement in relationship management and sales activities with key clients and prospects.Replacing Dunlop is José Placido, who is currently vice-president, client service delivery and relationship management.

David Dunlop, senior vice-president of global custody services at Royal Trust in Toronto is moving to a new role at the organization.Dunlop will represent Royal Trust and Royal Bank on major external industry projects and continue his involvement in relationship management and sales activities with key clients and prospects.Replacing Dunlop is José Placido, who is currently vice-president, client service delivery and relationship management.

David Dunlop

TORONTO-David Dunlop could be considered one of the great survivors of the securities services business- perhaps one of the few constants in the shifting sands of Canadian custody is Dunlop , who is today senior vice president of global securities services at Royal Trust.

Indeed , that the Royal Trust name still exists in custody is a function of the great business built up by Dunlop and his colleagues.In 1993 , Royal Trust was purchased by the much larger Royal Bank of Canada , which then went on to buy two more Canadian securities businesses.Dunlop and Royal Trust survived-indeed thrived-through all the upheaval.What has surprised him most.That we would have to hire network managers with Royal Canadian Mounted Police or SAS training to survive in some of the most far-flung markets , and a PhD in Geography so they could find them in the first place..

Dunlop also points out the plus side of the industry's shrinkage.The rationalization of participants has created much closer , more compatible relationships within the industry , he says.We continue to compete vigorously , but the fact many of us know each other well and have great mutual respect has resulted in a generally collegial , personalized environment which I enjoy and value tremendously..

David Dunlop

Senior Vice President, Royal Trust Corporation of Canada

David Dunlop, senior vice president, global securities services, Royal Trust welcomed Kamp's speech as "a breath of fresh air."The issues raised are key to the future of SWIFT, says Dunlop and the new chairman's address was a positive development.While Kamp laid down the challenge to the membership en masse, it was the board and senior management of SWIFT who needed to take heed, suggests Dunlop.
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Big banks by definition lead SWIFT, says Dunlop."The 90:10 rule prevails," he explains, with the world's leading banks accounting for the majority of SWIFT traffic revenues - a fact reflected in their corresponding share-holding."Small banks use SWIFT but have little influence," he adds.It is natural that the largest financial institutions should lead, says Auer, because "they're driving the markets."Small banks would find it difficult to bring in the 'right people' to guide SWIFT, he suggests, as they lack resources in-depth to release senior management to the SWIFT board on secondment.
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The membership lacks a detailed knowledge of SWIFT's future capital requirements, says Dunlop, and as such, "The question of whether SWIFT should remain a co-operative or go public is an issue for the board."

We , and our client brokers and investment managers , are subject to the vagaries of other market participants and inadequate technological infrastructure," acknowledges David Dunlop, Senior Vice President Global Securities Services, Royal Trust.

01DEC99: David Dunlop, who has led the global securities services business at Royal Trust for fourteen years, is stepping aside.He is to take up a new role as a roving ambassador for the business, representing Royal Trust and its parent, Royal Bank of Canada, on major external industry projects such as GSTPA and T+1.He will continue to have involvement with relationship management and sales activities for key clients and prospects.Under Dunlop's leadership, assets have grown from CAD35 billion to CAD750 billion.