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RBC Capital Markets has been opportunistically poaching from rivals retreating from certain business areas.

RBC Capital Markets continues London hiring drive

RBC Capital Markets is continuing its European hiring spree, opportunistically recruiting from London rivals across research, M&A and trading. The latest batch of new senior employees have moved across from Deutsche Bank, Barclays and Lloyds.

Jason Kay, a former head of base metals trading at Bank of America who left Deutsche Bank in June following its decision to wind down its commodities business, has re-emerged in a similar position at RBC Capital Markets, according to sources close to the situation.

Kay only joined Deutsche Bank in September 2013, but left the bank in June, according to filings on the Financial Conduct Register.

Predictably, however, it’s Barclays investment bank that has proved the most fertile hunting ground for RBC. Following its appointment of Jonathan Dann as a managing director in telecoms equity research, a number of his former reports have now joined as directors.

Michael Bishop has joined as a director in European telecom services research, San Dhillon has signed up as a director in telecoms equity research, as has Sonalee Parekh, who was also previously an executive director at Goldman Sachs.

Outside of the research sector, Samuel Coates joined RBC from Barclays as a European equity sales trader in July.

Meanwhile, Lloyds Banking Group has also been losing front office employees to RBC. Lee Bartholomew, a derivatives trader at Lloyds and Vatsala Datta, who was UK rates strategist, also signed up to RBC in July.

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AUTHORPaul Clarke

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