Two senior credit derivatives staffers at The Royal Bank of Scotland have quit the firm. As first reported on DW's Web site, Sanjeev Gupta, co-head of global credit trading and head of correlation trading, resigned a week ago Friday and Hector Garcia, head of exotic credit trading, resigned last Wednesday. It could not be determined if the departures were related. Garcia, who reported to Gupta, declined to comment and Gupta could not be reached. Murray Parker, spokesman, had no comment.
Gupta is considered one of the founding fathers of the credit derivatives market and was a stellar hire for RBS when brought on board in 2004 to spearhead the firm's charge into the sector. He was co-head of trading with Stewart Booth, who did not return phone messages, and reported to Symon Drake-Brockman, global head of debt markets in London, who was traveling and could not be reached for comment.
