The new top executive at RBC Direct Investing, Royal Bank of Canada's discount brokerage arm, said further contraction in the field should help his unit continue to expand in Canada and possibly in other markets.

Jason Storsley, whose promotion to president and chief executive officer of RBC Direct was announced last week and officially goes into effect Feb. 1, said that the company increased its share of the Canadian discount brokerage market by 80 basis points from June 2007 to June 2008 and that it should be able to build on that growth in the next year.

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