NEW YORK, June 12 (Reuters) - RBC Capital Markets has

promoted two of its financial services investment bankers to run

units advising insurance and specialty finance companies in the

U.S., a spokesperson for the bank confirmed on Thursday.

Neil Chawhan has been elevated to head of U.S. insurance

investment banking, and Saurabh Monga will now co-lead the U.S.

specialty finance business of RBC Capital Markets.

Both Chawhan and Monga have been managing directors within

the investment banking arm of Royal Bank of Canada ( RY ) since

2017, according to their respective LinkedIn profiles.

Chawhan's career before RBC was predominantly at Bank of

America ( BAC ), where he spent nearly 16 years, with a stint at

Stifel's Keefe, Bruyette & Woods before joining the

Canadian bank.

Prior to RBC, Monga spent nearly 17 years split between

Deutsche Bank and Bank of America ( BAC ).

Monga's stewardship of the U.S. specialty finance team will

be alongside Eric Steifman, the investment bank's co-head of

U.S. banks and specialty finance.