The Royal Bank of Scotland has added a pair of Morgan Stanley traders to boost its credit flow trading desk. Taro Goto has joined to head industrial, retail and consumer corporate trading, and Robert Boeheim is trading telecommunications, media and technology names.
The hires are part of the firm's capital markets expansion, said Stewart Booth, head of credit trading. "We have built positions in ABS, sterling and various structured products and feel it is a great opportunity to invest in the euro flow and high yield businesses," he said, adding there is now a 20-strong team of single name traders in Europe.
Goto started on the desk last month after eight years at Morgan Stanley where he reported to Pat Lynch, who could not be contacted by press time. Goto said he was looking for fresh challenges and moved to trade a new sector. He reports to Booth. Boeheim, in an email to DW, said he reports to Ben Gulliver, head of flow corporate trading, who declined further comment.
In addition to trading hires, RBS has also added a number of structurers and sales officials to its capital markets product team this year (DW, 5/27).
