From the Old Norse personal name Rögnvaldr (composed of regin ‘advice, decision’ (also, ‘the gods’) + valdr ‘ruler’). This name was regularly used in the Middle Ages in northern England and Scotland, where Scandinavian influence was strong. It is now widespread throughout the English-speaking world.
Italian: from the personal name Bono meaning ‘good’, from the Latin personal name Bonus, which was borne by a minor 3rd-century Christian saint, martyred at Rome with eleven companions under the Emperor Vespasian. It was adopted as a personal name partly in his honor and partly because of the transparently well-omened meaning.