RBS lost the senior rates trader it poached from Brevan Howard last year
Mark Deniston is done with RBS. Sources say the senior rates trader has resigned from the British bank despite only joining in January 2017.
RBS didn't immediately comment on Deniston's exit. He is no longer on the bank's internal directory.
Deniston joined RBS in January 2017 after around four years at macro hedge fund Brevan Howard. Before that, he spent nearly five years at Goldman Sachs and nearly six years at Deutsche Bank. His exit seems a blow for RBS, which is a major player in the rates space and is known for having some of the best traders in the market.
It's not clear where Deniston's off to next, but if wants to join a macro hedge fund, several are hiring. Colin Lancaster is recruiting for a 20-person macro unit at Citadel. Ex-Citadel. Ex-Lehman Brothers trader Tim Wilkinson is building something similar at Balyasny. Eisler Capital is also hiring after recruiting Sam Wisnia from Deutsche Bank, plus (we hear) Wisnia's deputy Kal El-Wahab.
If Deniston isn't off to a fund, he could always go back to the banks he worked for previously. Deutsche Bank not only has gaps in its European rates business (following Wisnia and El-Wahab's exits), but said yesterday that it plans to invest in the European rates business under new CEO Christian Sewing. Goldman too has various gaps on its London rates desk after several of its traders left for Deutsche Bank.
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