There are myriad reasons why Royal Bank of Canada is so successful. Its balance sheet is strong, it has leading market share in all of its business lines—from banking to insurance to wealth management to investment banking—and, at a time when many of its competitors are retrenching, it continues to invest in new products, services and markets.

But not to be overlooked as a contributing factor is the diversity of its workforce. Canada's largest banking company actively targets new immigrants, women entrepreneurs, Canadian Aboriginals, the gay and lesbian community and people with disabilities, and Chief Executive Gord Nixon says the key to reaching these audiences is having a workforce that mirrors their cultures.

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