RBS hires five for Americas credit sales and trading

Royal Bank of Scotland has announced that it has expanded its US flow credit sales and trading teams within its global banking and markets division in the Americas. Robert Williams and Michael Regan have joined the firm as managing directors in credit trading, Seth Bernstein has joined as a senior vice president in credit trading, while Richard Joyce and Tom Daly have joined as managing directors in credit sales. Daly and Joyce will report to Anthony Britton, head of credit sales, Americas, while Regan, Williams and Bernstein will report to Sean Murdock, managing director, US flow credit trading, Americas. All five are based in Stamford.

Regan was most recently a managing director at Christopher Street Capital where he was responsible for credit trading. Prior to that he was a managing director at Deutsche Bank in New York and London, where he spent seven years as the head of credit trading. He began his career at Merrill Lynch, where he spent 16 years with the firm in a credit trading capacity in both New York and London.

Williams comes to RBS from Mizuho Securities where he was an executive director focused on banks and finance companies in the credit trading group. Prior to his role at Mizuho, he was a managing director at Bear Stearns for five years, serving as a trader initially focused on cash bonds for banks and finance companies before shifting his focus to cash bonds for automobile companies and credit default swaps. Williams began his career in the debt capital markets group at HSBC.

Bernstein was most recently a vice president at Morgan Stanley where he served on the high-yield credit trading desk as a primary market maker and risk manager, trading high yield bonds and CDS across the gaming, energy, lodging, and leisure sectors. Prior to this, he held positions in Morgan Stanley’s high-yield bond sales and collateral management groups.

Daly joins RBS from GFI Group where he was a managing director on the credit sales desk for more than a year. Prior to his role at GFI, Mr. Daly was a managing director in credit sales at Deutsche Bank for nearly five years covering investment-grade. Before joining Deutsche, he was a founding principal and managing partner of Quixote Capital Management, a Denver, Colorado-based money management firm. Daly began his career at Salomon Smith Barney.

Joyce joins the firm from BTIG where he was a managing director in credit sales for the past year. Before joining BTIG, he spent five years at UBS, first in credit and structured sales and later as an executive director in high-yield loan trading. He started his career at Goldman Sachs in credit sales and spent 13 years with the firm.