RBC Dain hires new managing director

Glenn Schultz has left JPMorgan Securities to join RBC Dain Rauscher Inc. Schultz on Friday began his first day as a managing director at RBC, reporting to Greg Coffman, head of mortgage sales and trading, and Lauren Carlson, head of RBC's asset securitization group. He will be working out of the company's Chicago office, spliting his time between mortgage ABS and the mortgage trading desk, where he will focus on new-issues.