RBS strengthens institutional equity derivatives

Royal Bank of Scotland says two new hires will boost its institutional distribution capabilities.

Royal Bank of Scotland has added two salespeople to its institutional equity derivatives team as it continues its expansion in the region. The two hires, Jennifer Kong and Abhinav Sinha, both previously worked at Bank of America Merrill Lynch.

The pair might have worked for the same bank, but their desks were 6,000 miles apart -- Kong, who left in April 2009, was based in the Hong Kong office, while Sinha was in London. And they will revive that relationship at RBS, with Kong selling flow derivatives products to financial institutions within the region and Sinha marketing the bank's Asia-Pacific equity derivatives platform to European clients.

RBS's push into the institutional market started last year with the hire of Ted Tsao, an ex-Citi banker, to target sales to institutional clients. Before that, the bank had concentrated on building its retail derivatives business in Asia.

"These strategic hires for the Asian flow equity derivatives product highlight the continued commitment of RBS in building up the institutional client business and the renewed pursuit of targeting hedge funds," said Tsao.

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