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RBC Junk Group To Relocate

25 Nov 2001

The high-yield trading, sales and research arm of RBC Capital Markets will to move from its current location in Greenwich, Conn. to company offices in Purchase, N.Y., according to Dan Elkaim, head of high-yield sales. He says the high-yield group is making the move to unite high-yield sales and trading with a newly hired leveraged finance group from Indosuez Capital led by Kenneth Kencel that is operating out of Purchase. Another change precipitated by the addition of Kencel's group is that Max Holmes, who had been head of high-yield origination, will now work with the leveraged finance group.

RBC leased the additional space in Purchase after its offices at One Liberty Plaza became temporarily unusable due to the Sept. 11 attacks. Elkaim says it is still not clear when the group will move to Purchase, as the trading facilities are not yet ready, and the return of other RBC employees to One Liberty is still being worked out.

25 Nov 2001