RBS hires salesman for Italian institutional sales from ADS Securities

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The Royal Bank of Scotland (RBS) has boosted its FX coverage with Italian institutions with the hire of an FX salesman from ADS Securities, a bank spokesman confirms.

Domenico Figoli joined the bank this week in FX and derivatives sales, based in London, and will report to Xavier Bourbonneux, head of CEEMEA FX sales. He was hired from ADS Securities, where he has been FX sales manager for Italy for the past year. Before that, he spent more than seven-years at Royal Bank of Canada. Relative to its market share in western Europe, RBS has underperformed with Italian financial institutions. In the 2012 Euromoney survey, the bank was ranked 10th, with a market share of 0.85%, compared with 8.62% for the entire region in volumes traded with real-money clients.