RBS Greenwich Capital, an institutional fixed-income firm that provides the full range of debt capital markets services and is part of The Royal Bank of Scotland (RBS), announces the expansion of its Mortgage Business with the addition of 16 professionals to its Mortgage-Backed Securities team. Fifteen of the hires join RBS from Bear Stearns & Co., led by Scott Eichel, who will Co-Head Asset-Backed and Mortgage Trading with RBS veteran David Cannon.
Eichel is joined by six other traders from Bear Stearns, including his two senior traders, Adam Siegel and Paul Van Lingen. Joining Eichel, Siegel and Van Lingen are ABX trader David Dietche, CDO trader Matt Katke, CDS trader Keith Lind and ARMS trader Joe Steffa. RBS has also hired John Suh from Bank of America Securities to trade Mortgage Derivatives.
“I’m looking forward to having Scott as a partner to further strengthen the mortgage platform as we aspire to become our customers’ top counterparty across the mortgage product line,” says Cannon. “These additions are a perfect complement to the existing team that was already considered one of the strongest on the street.”
RBS also bolstered its No. 1 ranked (Orion Surveys 2006 and 2007) 35-person institutional MBS sales team with the addition of eight salespeople, also from Bear Stearns. The additions to the sales team include Corey DeForrest, Andrew Javorksy, Dan Hoffman, Andrew Kail, Jesse Maffei, Lou Rosenfeld, and Darryl Smith in Connecticut, and Matt Zisette who joins the Los Angeles office.
“We are excited to have a group of salespeople and traders of this caliber coming on board,” says Jeffrey DiModica, managing director and head of ABS Sales in Greenwich. “We believe this team is well-positioned as a premier MBS/ABS counterparty across all product lines in which our customers are involved.”