Embracing a Culture of Philanthropy

RBC’s support of MSK is advancing cancer research and impacting millions of lives around the world 

When people come together, extraordinary progress can happen. Leaders and employees of RBC embrace this philosophy, committing to making a positive and measurable impact on the world around them. Their partnership with Memorial Sloan Kettering Cancer Center (MSK) is changing lives and providing new hope to people with cancer. 

Extending more than two decades, RBC’s support of MSK is multifaceted and includes major fundraising events, corporate sponsorships, company grants, and individual giving. Much of the organization’s philanthropy benefits MSK Kids, the pediatric cancer program at MSK, but also spans several initiatives that help adults with cancer.  

“We have a great partnership with MSK, and it’s only grown stronger year after year,” says Heather Netrosio, Head of U.S. Client and Marketing Strategy for RBC Capital Markets, the Firm’s investment bank. “Our team members really rally around the cause because philanthropy is so embedded in our culture and cancer is so personal. We are proud to be associated with one of the most elite cancer institutions in the world.” 

Fundraising for a Common Cause 

 RBC Race for the Kids, the company’s largest fundraising event, started in 2009 as a single race in New York City and has since grown into a series of events across the globe. MSK Kids has been a beneficiary of the original run since its inception and became its sole charity partner in 2022.  

On April 21, more than 8,000 people — including over 1,000 members of Team RBC — gathered in Central Park to participate in the 2024 RBC Race for the Kids’ four-mile run or one-mile walk. Since 2022, this event has raised over $2 million for the RBC Initiative in Immuno-Oncology at MSK Kids to support research in immunotherapy, an innovative approach that boosts a person’s own immune system to recognize and destroy cancer cells. Immunotherapy has revolutionized the treatment of many types of cancer in adults and also holds great promise for treating challenging cancers in children.  

“We are so grateful for the continued partnership with RBC, which has been foundational in our efforts to harness the power of the immune system to provide new hope for children with cancer,” says Andrew Kung, MD, PhD, Chair of the Department of Pediatrics and Lila Acheson Wallace Chair for Pediatric Research. Along with the funds raised from RBC Race for the Kids, this year the RBC Foundation USA awarded MSK an additional $250,000 grant to advance research into immunotherapy treatments for children with cancer. “With their support, we have opened new immunotherapy clinical trials and are making great progress in our efforts to find new immunotherapy targets for pediatric solid tumors,” says Dr. Kung. “We are confident that together we can improve outcomes for our youngest patients.”  

RBC also supports MSK’s Cycle for Survival, having raised more than $2 million for rare cancer research since 2013. This year, Team RBC was the Presenting Sponsor of the New York City Corporate Ride and had 10 teams and 181 employees participate in rides throughout the country and Toronto, raising more than $350,000 — the highest single-season fundraising total for the team to date. Their philanthropic efforts earned them Cycle for Survival’s 2023–2024 Game Changer Award for Corporate Team of the Year in recognition of their leadership, generosity, and unwavering dedication to Cycle for Survival’s mission to beat rare cancers. 

A Widespread Impact 

RBC’s philanthropic leadership extends to an array of programs at MSK. Over the past two years, eight RBC employees participated in MSK’s running program, Fred’s Team, raising over $35,000 for lung cancer, colon cancer, pediatric bone marrow transplantation, and lymphoma. And more than 2,400 RBC employees have donated $512,000 to MSK, directing their gifts to more than 40 funds related to pediatrics, bladder cancer, patient care, nursing education, gynecologic cancers, colorectal cancers, neuroendocrine research, the Food to Overcome Outcome Disparities program, sarcomas, bone marrow transplantation, breast cancer, global disparity initiatives, and metastasis research.  

“From our interns to CEO, every person at RBC is committed to making a positive impact on the communities where we live and work,” says Rebecca Gnessin, Vice President, U.S. Foundation and Corporate Citizenship, for RBC Capital Markets. “We look forward to continuing our partnership with MSK in the years ahead and making even more meaningful contributions to people’s lives.”