The Royal Bank of Scotland plc (RBS) has announced that Scott Eichel has been appointed Global Head of Securitized Products and Head of US Credit for its Markets franchise within its Global Banking & Markets division.
Eichel will continue to report globally to Peter Nielsen, Global Head of Markets and regionally to Michael Lyublinsky, Co-Head of RBS's Global Banking & Markets division in the Americas, and Global Co-Head of Fixed Income, Commodities and Currencies (FICC).
Since joining RBS in 2008, Eichel has played a critical role in helping to lead Asset-Backed Securities (ABS), Mortgage-Backed Securities (MBS), and Commercial Mortgage Backed Securities (CMBS) trading globally. In this new role, Eichel will oversee the firm's ABS, MBS and CMBS products across trading, structuring and sales throughout its Markets franchise.
In addition to these broader responsibilities, Eichel's expanded role will also include leading RBS's US Credit business within its Markets franchise. Last year, Eichel was appointed Head of US Credit Trading. As part of his broader mandate, Eichel will now coordinate closely with Sales and Structuring executives within RBS's Markets franchise to ensure that objectives and direction are fully aligned.
'In this changing regulatory and competitive landscape, it is critical that we join up properly across regions to maintain our world-class franchise and client offering', said Peter Nielsen, Global Head of Markets. 'Scott's skills in business building will be key as we continue to develop an increased presence in the securitization and US credit markets'.
Michael Lyublinsky, Co-Head of Global Banking & Markets, Americas, and Global Co-Head of FICC, added, 'Scott has been an integral part of our strategic efforts to build a first-rate securitization trading business, and to enhance and expand our US Credit Trading capabilities. This appointment reflects his overall commitment to the firm and his success in driving strategic initiatives and client relationships for our Markets franchise in the Americas and globally'.
Eichel joined RBS from Bear Stearns where he was a Senior Managing Director and co-headed Residential Mortgage and Asset-Backed Trading. Before that, he managed the Credit Trading desk for five-years and was a trader on the Non-Agency Fixed Rate and Asset-Backed Trading Securities desk at Bear Stearns.
Source - The Royal Bank of Scotland
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