The Royal Bank of Scotland is continuing to bulk up, bringing on board Andrew Rothstein as a senior v.p. in its loan markets group from Merrill Lynch Capital and Chad Hersch as an associate v.p. loan salesman from Credit Suisse First Boston. Rothstein will focus on structuring middle-market and institutional leveraged credits reporting to Jeff Stuart, head of loan markets. Meanwhile, Hersch will report to Art de Pena and Rob Gianni, co-heads of loan sales and trading. Before Merrill, Rothstein worked at UBS and Scotia Capital. Hersch, who covers institutional accounts on the CSFB trading desk, joined CSFB in 1997. He declined to comment, as did officials at RBS.
RBS has been on a hiring spree in the last few months and more hires are predicted, a source familiar with the situation said. The bank is aiming to build a long-term business in the U.S and crack the top tier within the next two to three years, bankers said.
Most recently, RBS brought on board David Morin from ABN Amro, a v.p. trading leveraged and non-leveraged loans. The firm also brought over Marin Gagliardi as an associate v.p. on its syndicated loan team from BNP Paribas to concentrate on its energy business. Jeff Stuart was hired as a managing director and head of loan markets for the Americas in the summer (LMW, 7/23). Stuart was previously at Bank of Tokyo Mitsubishi where he was head of structuring and marketing for syndications. Gianni was hired last fall from UBS alongside de Pena from CSFB.