Royal Bank of Scotland Financial Markets is planning to hire five derivatives salesman for its London office to focus on selling derivative-linked products to end users on the Continent. Chris Webster, head of derivatives sales in London, said he plans to expand the 27-strong team to 32 sales professionals. The mainly interest-rate derivatives sales force will cover the U.K. and Europe. Webster said the expansion is in line with the bank's goal to do more business on the Continent. Although he acknowledged the interest-rate derivatives market is saturated, he said RBOS is still hoping to make inroads. "The market is developed, but our coverage of it isn't."
U.K. Bank Plans I-Rate Sales Hires
