Tim Carrington has been playing a game of high-quality musical chairs for the last few years.
The music began in early 2007 when he left Dresdner Kleinwort, where he was global head of FX derivatives trading, to join Harry Culham (previously Dresdner’s global head of FICC) at Merrill Lynch.
The Merrill seat turned out not to be as comfortable as it had looked and Carrington abruptly left eight months later. However, as we pointed out at the time, there was nothing unusual about sudden departures from Merrill. Legend has it that his exit was prompted by his calling someone something very rude. (Poor crossword clue: In a panic until abuse (4))
By May 2008 Culham had left Merrill too to return to CIBC, where he had started his career, as head of capital markets trading. Within a couple of months, Carrington didn’t want to dance solo anymore and joined up with Culham again – this time as head of equity and commodity structured products.
But by April 2010 Carrington could hear the music once more and quit his then role of head of global derivatives and strategic risk at CIBC.
Now we hear that Carrington has danced his way over to RBS.