Royal Bank of Scotland’s recruitment in fixed income trading last year appears to have been a short-lived thing. At least two of the senior traders recruited around this time last year have departed for new roles.
Jefferies has just hired Axel Bleymann, who traded pound-denominated financial bonds, from RBS into a similar role. Bleymann only joined RBS in October last year – after more than two years at BNP Paribas – and was part of a recruitment drive within the bank’s credit trading business in spite of ongoing job cuts elsewhere.
At the time, RBS also added Amreetpal Summan as a director in its credit trading business and Jason Harwood, the former head of financials trading at Nomura. Summan left RBS in the summer and is now a fixed income ETF traders at prop trading firm Goldenberg Hehmeyer.
Before joining RBS, Summan was a director in credit trading at Credit Agricole, focused on bank and insurance hybrid capital.
RBS’s recruitment of Bleymann and Summan came at a time when it was cutting 100 jobs across its investment banking business including senior corporate bond traders.
Jefferies, meanwhile, has been making a string of new hires across its London investment banking and markets business in recent months. Most recently, Jack Czarnota, who was a director in European high yield sales at HSBC, joined as a managing director.