The Royal Bank of Scotland has added 16 new members to its mortgage-backed securities group, 15 of which are from Bear Stearns. Scott Eichel, former senior managing director and head of asset-backed securities trading at Bear, will co-head the asset-backed and mortgage trading group at RBS Greenwich Capital along with David Cannon.
Adam Siegel, Paul Van Lingen, both senior mortgage traders from Bear, ABX trader David Dietche, CDO trader Matt Katke, CDS trader Keith Lind and ARMS trader Joe Steffa, will also join the group. RBS has also hired John Suh from Bank of America Securities to trade mortgage derivatives.
Eight new hires from Bear Stearns will also join the 35 person sales team, including Corey DeForrest, Andrew Javorksy, Dan Hoffman, Andrew Kail, Lou Rosenfeld, Jesse Maffei, and Darryl Smith in Connecticut, and Matt Zisette in the Los Angeles office.
