RBC has appointed two former Credit Suisse senior algorithmic trading individuals to join its low touch electronic sales and trading team, The TRADE can reveal.
James Hilton has been appointed multi-asset managing director in RBC’s low touch team, according to sources familiar with the matter. He joins from Credit Suisse where he had been serving as head of sales for EMEA for the bank’s advanced execution sales (AES) team.
Prior to joining Credit Suisse in 2006, Hilton spent six years at UBS Investment Bank as a director.
Also appointed to the low touch sales and trading team at RBC is Suzanne Webster, who has joined as a multi-asset director, sources have confirmed.
Webster also joins from Credit Suisse where she had previously spent 18 years, first as a pan European equity cash trader and later in a sales and trading role also within the AES division.
The pair join the low touch team at RBC a few months after the departure of co-head of European electronic sales and trading, Bianca Gould, who left the bank in July after almost three years as part of streamlining measures.
Read more – UBS agrees landmark takeover of Credit Suisse after intervention from Swiss authorities
The UBS takeover of Credit Suisse, agreed in March under the Swiss government’s stewardship, has sparked significant turnover on the sell-side in both senior and junior roles.
BNP Paribas bolstered its equities team in London with the hire of Credit Suisse’s event driven team in May, according to sources familiar with the matter.
Susan Stryker Marinello, event driven specialist sales for the EMEA region at the Swiss bank, and Andy Martin and Simon Scott, both risk arbitrage traders, are joining the French lender, according to the people who spoke on condition of anonymity as the matter is private.
More recently, The TRADE reported last week that UBS had cut a number of positions in its cash equities business in London following the take-over, according to people familiar with the matter.
The TRADE contacted RBC for comment.