RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (RY on TSX and NYSE), the largest bank in Canada and the 12th largest bank in the world, today announced that it has hired Nicolo Foschetti as a Director in its Structured Interest Rate Sales group in London.
Foschetti joins RBC Capital Markets with over 12 years market experience within structured products, most recently at Bank of America, where he was Principle, Co-head of Southern Europe Regional Sales. Prior to that Foschetti held positions at Unicredit, Merrill Lynch and Morgan Stanley.
The addition of Nicolo to our growing team is part of our overall strategy to expand RBCs structured rates business in Europe, says Avril Pomper, head of fixed income & currencies and financial products sales, Europe. With a focus on Italy, Spain, Portugal and Greece, Nicolo will help to strengthen our client coverage in southern Europe.
Over the last 12 months RBC Capital Markets has hired in excess of 300 people throughout its global capital markets operations. Despite challenging and turbulent markets RBC has recently announced record net income of C$1,561 million for the third quarter ended 31 July 2009, up C$299 million or 24% from a year ago. RBC Capital Markets in particular had a strong performance with net income at C$562 million, up C$293 million from a year ago. Compared to last quarter, net income was up $142 million. RBC is one of only six banks with a Triple A rating from Moody’s and has a Tier 1 Capital Ratio of 12.9%.
D.C.