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RBC has poached a senior credit analyst from UBS for its growing junk bond and distressed trading desk

Published by Business Insider on Sat, 05 Jun 2021

<p><img src="https://static5.businessinsider.com/image/60ba824b93c6fa00195e54d0-2400/GettyImages-485908788.jpg" border="0" alt="RBC" data-mce-source="Roberto Machado Noa/LightRocket via Getty Images" data-mce-caption="ST CLAIR AVE WEST, TORONTO, ONTARIO, CANADA - 2015/07/05: Royal Bank of Canada signage on a glass facade building. The signage has the outline of a lion holding a globe in yellow against a blue background. RBC Financial Group is the largest financial institution in Canada. The bank serves 18 million clients and has 80,100 employees worldwide. (Photo by Roberto Machado Noa/LightRocket via Getty Images)"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>RBC Capital Markets has added a senior hire to its junk bond and distressed credit desk, a growth area for the firm over the past two years.&nbsp;</p><p>Srihari Rajagopalan, a veteran research analyst on UBS' credit desk, has resigned to join RBC, according to sources familiar with the matter. <img style="float:right;" src="https://static3.businessinsider.com/image/60ba806d93c6fa00195e54c3-766/Screen Shot 2021-06-04 at 3.29.50 PM.png" border="0" alt="Srihari Rajagopalan RBC" data-mce-source="LinkedIn"></p><p>Representatives for RBC and UBS declined to comment.</p><p>RBC has been <a href="https://www.businessinsider.com/rbc-makes-key-hires-distressed-debt-trading-amid-credit-rout-2020-4">building out its high-yield and distressed credit</a> capabilities since former Goldman Sachs partner Adam Savarese joined as head of the trading group in September 2019.&nbsp;</p><p>Last spring the firm brought aboard Callie Simpkins, previously a rising star on Goldman Sachs' leveraged finance sales desk, and Jim Russo, previously a portfolio manager at PointState Capital.&nbsp;</p><p>Rajagopalan spent eight years at UBS, specializing in leveraged finance research in sectors including gaming, lodging, leisure, retail, and metals and mining, according to his LinkedIn profile and FINRA records.&nbsp;</p><p>Prior to UBS, he spent six years at Deutsche Bank in high-yield research.&nbsp;</p><p><em>This story is developing.&nbsp;</em></p><p><a href="https://www.businessinsider.com/rbc-hires-ubs-sri-rajagopalan-distressed-credit-desk-leveraged-finance-2021-6#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/why-everyone-hates-moist-2018-5">Why 'moist' is one of the most hated words in the English language</a></p>
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