The Royal Bank of Scotland is planning to hire at least six bankers for its asset-backed origination business in the U.K., according to an industry official familiar with the firms' plans. This market veteran says that the new hires will be directed at bolstering the firm's existing group, as part of its overall plans to increase its presence in the U.K. debt capital markets business. Calls to Euan Hamilton, co-head of securitization in London, were not returned. RBS was ranked 10th in Thomson Financial's all non-dollar international asset-backed bookrunners league table for 2001.
Most recently, RBS set up a bond origination business in Paris, and is seeking to add some origination bankers there as part of its strategic plans for garnering more European business (BW, 1/7). RBS has also started a leveraged finance unit in Spain and will eventually venture into the ABS market there, as well (BW, 1/14).