NatWest Markets’ head of loan trading departs to head up European business at RBC

According to an internal memo seen by The TRADE the addition will help build out RBC’s leveraged finance and financial sponsors banking business in Europe.

RBC Capital Markets has appointed the former head of loan trading at NatWest Markets to head up its European loan trading business, The TRADE can reveal.

According to an internal memo, Ian Devine has joined RBC Capital Markets as head of leveraged loan trading and will be responsible for working with the institution’s investment banking division to support its primary franchise and secondary trading of transactions in the leveraged loans space as it continues to build out its leveraged finance and financial sponsors banking business in Europe.

“He will be responsible for delivering best-in-class service to the firm’s European client base and will play a fundamental role in building upon existing momentum,” said RBC in the memo.

He joins RBC from NatWest Markets, where he had been head of loan trading for the last seven years.

Prior to joining NatWest Markets, Devine spent three years as head of loan trading at Credit Agricole, also serving in various roles at GE Capital, Bank of Scotland, UBS and HSBC.

His appointment follows several other new additions made by RBC in the last few months across its various divisions including former TRADE editor, Hayley McDowell, who was appointed EU equity electronic sales trader and market structure consultant, and former Morgan Stanley institutional equities specialist, Lucy Heighton, who joined RBC as a director and sales trader based in London.

Earlier in 2021, RBC also appointed a new European chief operations officer in July after previously serving for nearly 12 years at the institution.