RBC's new head of European loan trading left for Citi after two months
In the normal way of things, it is not a good look to jump from one job to another in anything less than an 18-month period. And yet there has been a recent spate of people swapping jobs within two months of arriving.
The spate includes Michael Georgis, who, as we reported last week, is going from Barclays to Jefferies as head of Swiss fixed income in a two-month period. It also includes Ralph Boumalham, who arrived at Royal Bank of Canada on May 9th and who left again on July 11th.
RBC didn't respond to a request to comment on Boumalham's brief time there. As we reported yesterday, the bank has lost various members of its credit team, but has also been hiring. Boumalham joined the bank as head of European loan trading from UBS. He left Citi for a similar role. Boumalham is not given to job-hopping and previously spent nine years at UBS.
Including Boumalham, RBC has lost nine people from its European credit team. Alongside those we reported yesterday, Charles Collis (who joined in May 2024), James Shapland and Jaimin Shah are also understood to have left. Shah left last year.
The reason for the departures is unclear. There are suggestions of rumbling discontent with bonuses.
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.
