RBS Greenwich Capital continues to lose high-profile traders in its MBS area. Ronald Weibye, managing director and head of nonagency trading, left the company early last week. The move had some logic to it, since many of the traders who reported to Weibye had left the bank in recent weeks, including Stewart Kronan and Jesse Litvak, according to market sources. Weibye also follows several other managing directors out the door, including Joe Walsh, whom the bank tried strenuously to keep, and Jay Levine, who stayed on in what some sources say was a more ceremonial than active capacity. One source put the departures into perspective, saying: "All of those guys were strong guys, but Royal Bank of Scotland is taking over, and they operate things like a bank."
Societe Generale Asset Management (SGAM) has created the position of head of strategic clients, which will be headed by Jerome de Dax. In his new role, de Dax will be responsible for developing a coordinated global relationship at the highest level; for promoting the whole range of expertise, products and services offered by the SGAM Group; and for providing access for these clients to value-added advisory and investment solutions. Laurent Bertiau will replace de Dax as global head of sales and marketing.