RBS Trio Join Macquarie as U.K. Lender Shrinks Division
November 14, 2011, 9:45 AM ESTBy Liam Vaughan
(Updates with hires in sixth paragraph.)
Nov. 11 (Bloomberg) -- Raj Khatri, head of metals and mining for Europe at Royal Bank of Scotland Plc, and two of his colleagues have left to join Macquarie Group Ltd., as the U.K. lender shrinks its securities unit.
Khatri, Haaris Zafar and Dmitry Klochkov start at Macquarie, Australia’s biggest investment bank, in London in November, Macquarie spokesman Gavin Winbanks said today by telephone. Khatri joins as head of metals and mining for Europe, the Middle East and Africa. Zafar becomes a managing director in the team and Klochkov has been named a vice-president.
RBS Chief Executive Officer Stephen Hester last week said that job cuts in the lender’s global banking and markets division would have to go beyond the 2,000 already announced because of the “external market environment.” Macquarie hired Jeff Largey from Nomura Holdings Inc. in September as head of metals and mining research for Europe.
“In the current market it is important to seize the opportunity to strengthen your team,” Graeme Conway, head of Macquarie Capital in Europe, said in a telephone interview. “We will continue to enhance in areas of the business we are already strong in, including natural resources and infrastructure.”
Macquarie also hired Allan Bertie as a senior managing director in industrials, Winbanks said. Bertie was formerly a managing director and head of the London office of Tokyo-based independent advisory firm GCA Savvian Group Corp.
Other hires this year include Michael Tarrant as head of industrials from Rothschild, Marc Middleton as vice-chairman in European advisory from the Shareholder Executive and Simon Wilde as head of European power and utilities from RBS.
A spokeswoman for Edinburgh-based RBS declined to comment.
--Editor: Jon Menon
To contact the reporters on this story: Liam Vaughan in London at lvaughan6@bloomberg.net
To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net
