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A late summer spate of high yield trader hiring in London

The summer of 2023 is in its final few weeks and hires who were made earlier in the year are trickling back from garden leave and into seats in banks in London. 

They include multiple recent recruits in high yield across various US and European banks.

Two Citi people who resigned earlier this year are understood to be among them. Larry Rintari, a senior leveraged loan salesman who left in February is said to be turning up at Morgan Stanley soon (Morgan Stanley isn't commenting). And Chris Lambeth, a VP in high yield credit trading at Citi, is due to join Alun Sheppard's team at BNP Paribas. 

UBS's high yield recruits are also arriving. As we reported in June, the Swiss bank has picked up two people - Carlo Armillis and Malcolm Stewart - both from NatWest. The departures are rumoured to have left NatWest's team sparsely staffed, implying that there may be replacement hiring there soon. However, NatWest itself hired Hind Benaim from Citi to run its EMEA leveraged loan trading team in December 2022. 

One headhunter said the new recruits are late in the hiring season, but necessary: "If they need a high yield trader, they need a high yield trader," he suggested. 

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AUTHORSarah Butcher Global Editor

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