Royal Bank of Scotland (RBS) appointed Scott Eichel has been appointed global head of securitized products and head of U.S. credit for its markets franchise within its global banking and markets unit.
Eichel will continue to report globally to Peter Nielsen, global head of markets as well as regionally to Michael Lyublinsky, co-head of RBS’s global banking and markets division in the Americas, and global co-head of fixed income, commodities and currencies (FICC).
Since joining RBS in 2008, the new appointee has played a key role in leading the firm's ABS, MBS, and CMBS trading globally.
In this new role, he will oversee RBS’s ABS, MBS and CMBS products across trading, structuring and sales throughout its markets franchise. Aside from these broader responsibilities, Eichel’s expanded role will also cover leading RBS’s U.S. credit business within its markets franchise.
Last year, Eichel was appointed head of U.S. credit trading. As part of his broader mandate, Eichel will now coordinate closely with sales and structuring officers within the bank’s markets franchise to make sure that objectives and direction are fully aligned.
Eichel joined RBS from Bear Stearns where he was a senior managing director and co-headed RMBS and ABS trading. Prior to this, he managed the credit trading desk for five years and was a trader on the non-agency fixed-rate and ABS trading desk at Bear Stearns.
“In this changing regulatory and competitive landscape, it is critical that we join up properly across regions to maintain our world-class franchise and client offering,” Nielsen said. “Scott’s skills in business building will be key as we continue to develop an increased presence in the securitization and US credit markets.”
“Scott has been an integral part of our strategic efforts to build a first-rate securitization trading business, and to enhance and expand our US Credit Trading capabilities," Lyublinsky added "This appointment reflects his overall commitment to the firm and his success in driving strategic initiatives and client relationships for our Markets franchise in the Americas and globally.”