RBC's global head of equities is ceding to someone from SocGen

Ahmed Kachenoura, the New York-based global head of equities at RBC Capital Markets is leaving. He's being replaced by a new recruit from SocGen.

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RBC confirmed that is leaving on December 31st. His exit will coincide with the arrival of James Masserio, the deputy head of global markets at SocGen, who will replace him.

SocGen seemingly likes to hire its equities leaders from French banks. Kachenoura joined the bank 12 years ago from Credit Agricole. Masserio has spent seven years at SocGen, and was formerly head of equity derivatives for the Americas at Credit Suisse. 

RBC is one of the first banks to announce bonuses. Its fourth quarter results are due on December 4th. Equities revenues at RBC fell 7% year-on-year in the third quarter, while US investment banks benefitted from increases of between 18% and 32%.

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