Simon Glossop, former head of credit trading at RBC Capital Markets in New York, has joined the European Bank for Reconstruction and Development as a portfolio manager. The EBRD is also planning to hire a head of the desk. Alex van Nederveen, deputy treasurer in London, said Glossop will work on the investment credit desk, which trades products ranging from collateralized debt obligations to repos. Glossop referred calls to van Nederveen.
In addition, the EBRD is looking to hire a head of the investment credit desk, according to van Nederveen. The hires will replace staffers who left last year.
Glossop, who was formerly known as Howard-Glossop, was let go from RBC after the firm reportedly took a hit on a credit-default swap position referenced to WorldCom (DW, 5/23/02). He was most recently working as a consultant for Credit Market Analysis to aid in developing its data algorithms.
