RBS loses debt traders as US operations continue to be scaled back

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Royal Bank of Scotland lost two debt traders to rival firms as the bank continues to scale back its U.S. operations.

Bloomberg News reports that Richard Dalessio, a director in the firm’s distressed and special situations trading unit, left yesterday and is joining Jefferies Group as a managing director, according to a person with direct knowledge of the hiring. Brad Roberts, a former managing director and credit flow trader at RBS, started a new job at Nomura this week, said another person, who asked not to be identified because the move hasn’t been announced publicly.

RBS is losing employees as the lender faces political pressure to reduce bonuses and shrink its U.S. investment bank before stiffer capital rules are implemented. The bank said in May it plans to reduce its mortgage-trading business by two-thirds and cut employees from its U.S. special situations trading unit.

To access the complete Bloomberg News article hit the link below:

RBS Debt Traders Said to Depart for Jefferies, Nomura

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