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Foreign Exchange

RBS’s head of Emerging Markets FX trading leaves

The head of emerging markets FX spot and forwards at the Royal Bank of Scotland has left the bank, according to two people familiar with the situation.

Robert Diehl, who spent 11-years with the bank, resigned late last month, one of a string of recent departures from RBS’s FX division. He was appointed head of EM FX trading in January 2010, having run CEEMEA trading for six years prior to that. He began his career with HSBC as an analyst on the options desk in 1997. His departure follows that of Stuart Oakley, head of Asia emerging markets FX trading, Jeff Anderson, an options trader in Stamford and Gordon Andrew, a G10 spot trader in London, who all left RBS late last month.

In sales, a trio of FX corporate sales veterans, Chris McHale, Neil Tandy and Andrew Stocker also resigned from the bank last month. It is believed that they have been hired by Santander, Spain’s biggest lender and the UK’s fifth-biggest high street bank. Separately, Tim Ash, the bank’s head of emerging markets research, left the bank two weeks ago.

RBS declined to comment on the departures.

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