Royal Bank of Scotland is seeking to hire up to five new bankers for its London-based securitization business and is aiming this year to originate more deals in Europe. The new hires will be made to fill out the 45-strong securitization team, says Philip Basil, head of securitization. Last year, RBS was third on the sterling securitization league tables and this year Basil plans to boost the firm's presence on the Continent.
RBS brought in new talent last year, especially on the structuring and distribution side to help the firm win more business in Spain, Germany, Italy and France, says Basil. He says there are opportunities to win mandates from the German banking sector as well as from Southern European corporates--both areas from which Basil expects to see growth in deal volumes. RBS offers a universal securitization operation.