RBC's London credit trading team keeps losing people, while hiring

11 September 2025

2 minute read

The European credit trading team at Canadian Bank RBC Capital Markets appears to have developed a propensity for losing staff. Several have left in recent months, although the bank has also been busy hiring.

Get Morning Coffee ☕ in your inbox. Sign up here.

The most recent departure, which is understood to have occurred on Monday, was that of Alex Marinelli, a senior credit trader who joined RBC from Barclays in 2022. Marinelli is joining Wells Fargo, as is Andrew Widdowson from SocGen. Marinelli will report to Widdowson who will report to Mayur Aggarwal, Wells Fargo's managing director and head of international credit and non-agency ABF trading.

Marinelli is the latest in a series of departures from RBC's London credit trading business. Other recent exits include Georgio Gregorio, a senior trader on the financials desk, Nikesh Parmar, the former head of investment grade credit trading, who went to BNP Paribas last year, Andrea Marcheggiano, who left for hedge fund LMR in January and Chris Telfer, a high yield trader who joined Athlone Investment Management in July.

RBC declined to comment on the exits. Insiders said the bank now needs to hire some new senior financials traders, an investment grade trader and a leveraged loans trader in London. It has, however, been hiring already. The Trade News reported in June that RBC had added Ralph Boumalham, Mousemi Dey, Justin Stratton-Christensen and Stuart Marenghi. Boumalham is the new head of leveraged loan trading, with Dey, Stratton-Christensen and Marenghi in sales.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.

Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.