Rothschild hires RBS’s ex-global head of equity syndicate after two years out
Stephen Taylor, the former global head of equity syndicate at Royal Bank of Scotland who left in the wake of the bank’s strategic review in 2012, has re-emerged at Rothschild after over two years out of the industry.
Taylor has joined Rothschild as head of equity syndicate, according to sources close to the situation, and signed up to the bank in June. He left his position at RBS in April 2012, after over four years in the role, following bank's decision to exit business areas within its investment bank including equity capital markets, M&A, cash equities and corporate broking.
According to the Financial Conduct Authority (FCA) register, the new position is Taylor’s first role since his exit from RBS over two years ago. Rothschild declined to comment on the appointment and Taylor could not be reached for comment.
However, Taylor’s appointment is indicative of a seeming new-found willingness among investment banks to hire senior staff who have taken time out from the industry. As we reported recently, Citigroup hired Trevor Gill, the former head of European equities at Knight Capital, as a cash equities trader after 18 months out, while Jefferies recruited both Dominic Squire, a former managing director at RBS, and Mark Cathcart, who held MD positions at Deutsche Bank and Unicredit. These were the first roles for both men for over two years.
This is Taylor’s second stint at Rothschild, having previously worked at the bank for over four years in roles in both London and Hong Kong. From 2004 until 2007 he was head of equity-linked products for Asia Pacific for the joint venture between ABN Amro and Rothschild, before moving to London as a managing director in equity-linked origination for one year until his move to RBS.
Taylor’s time out of the industry may seem prolonged, but other senior RBS equity staff have also found it difficult to find new employment. Paul Glynn, a managing director in equity-linked trading at RBS until December 2012, is still yet to find a new position, according to both the FCA register and his LinkedIn profile.