11th August 2005

The Royal Bank of Scotland, Financial Markets (RBS) announces a number of new hires that considerably strengthens its global Institutional FX Sales coverage.

North America
Craig Donaldson joins RBS as Head of North American Institutional FX Sales. Craig will manage the Greenwich and Boston sales teams and is mandated with growing the business in line with RBS’s ambition to expand its North American FI franchise. Craig will report locally in Greenwich to Graham Broyd Head of Foreign Exchange, RBS Greenwich Capital and globally to Bradley Leek, Global Head of Institutional FX Sales.

Craig joins RBS from Merrill Lynch where he spent the last 12 months, prior to which he was with Deutsche Bank for 15 years (having started at Bankers Trust) based in both Auckland and New York.

A recent addition to Craig's team in Greenwich is Russell Alber, from Morgan Stanley. Russell and Chris Eagle, who is also from Morgan Stanley, based in London and reporting to Brian Perry, Head of UK FIs, have complimentary client coverage within the hedge fund space hence broadening the bank’s distribution into this growing client sector.

In Europe, additions to the team this year have included Ivan Ferraroni, Ian Smyth and Mathijs Peeters, all reporting to Enrico Casini, European Head of Institutional FX Sales, based in London.

Ivan Ferraroni is focusing on Germany, Switzerland and Austria. After holding a variety of senior trading positions within UBS and Barclays, Ivan has switched to the client side of the business after a spell running his own telecom venture.

Ian Smyth is focusing on the Nordic region. He has moved to RBS from Deutsche Bank where he spent the last 8 years, prior to which he was at Nations Bank and Swiss Bank.

Mathijs Peeters, the most recent recruit, will focus on the Benelux region and joins RBS from UBS in London.

In Asia, the Institutional team has been strengthened by the addition of Kim Soon Fang who has moved from a local RBS sales team to work for Nick Strain, Head of Institutional FX Sales.

Commenting on the appointments Bradley Leek, Global Head of Institutional FX Sales, said: "I believe these hires will provide our business with a clear global focus and will place us in the best position to meet the requirements of our clients going forward."

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