By Sheila Mullan
NEW YORK (MNI) – RBC Capital Markets named Brian Varga as managing
director and head of U.S. government bond trading in New York.
He will report to Peter Hirsch, head of U.S. dollar rates and
mortgage trading, and will be responsible for managing RBC’s U.S.
Government trading desk (which covers all U.S. government coupon bonds
as well as TIPS) and also will oversee its day-to-day U.S. Primary
Dealership and trading in U.S. Government STRIPS.
Varga joins RBC from Morgan Stanley, where he was an Executive
Director in the Interest Rates group; he previously was head of U.S.
Treasury trading at Standard Chartered and held a similar post at
Countrywide, after working earlier at Salomon Bros/Citigroup.
His hiring occurs as RBC is building its U.S. govt bond trading
platform and recruited Hirsch to be head of U.S. dollar rates and MBS
trading in April. Varga follows veteran Tom Tucci in the post, who had
retired this past July, said sources.
“We are pleased to welcome Brian to RBC Capital Markets,” said
Jonathan Hunter, Global Head of Fixed Income and Currencies at RBC
Capital Markets. “His 20 years of experience in the U.S. rates space as
a Government Desk trading manager, STRIPS trader and 30-year bond trader
will enable us to continue delivering our clients globally with
best-in-class service and value. Our primary dealership in the U.S. is
an important cornerstone of our business, and one that we are extremely
committed to.”
In other Treasuries news this week, the New York Fed named
BMO Capital Markets Corp. and Bank of Nova Scotia/New York Agency to be
primary dealerships in U.S. government bonds. There are now 22 primary
dealers.
–By Sheila Mullan, smullan@marketnews.com, 212-669-6432
** Market News International New York Newsroom: 212-669-6430 **
[TOPICS: M$$FI$,M$U$$$,MAUDS$]