Global investment manager RBC Capital Markets has strengthened its fixed income unit with the promotion of company mainstay Scott Sinawi, who will be heading the group’s US rates sales within its fixed income currencies and commodities (FICC) trading group. The appointment comes during an uptick in demand for FICC trading capabilities in the US, which has seen a steady increase in H1 2017, as captured by multiple domestic exchanges.
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Mr. Sinawi steps into the newly created role of Head of Rates Sales – FICC following a successful tenure as RBC Capital Markets’ Managing Director for the past eight years. He originally joined the group back in April 2009, working out of New York. Per the promotion, his mandate will be to help lead the bank’s private US rates sales teams, including its corporate risk solutions for rates, foreign exchange (FX), and commodities, and public side teams – he will be reporting to RBC Capital’s Head of North American Sales, Jeff Fields.
This expansion of responsibilities greatly augments his oversight at the company. Prior to joining RBC Capital Markets in 2009, he worked at other leading investment banks in the US, part of a career extending back to 2001. This included stops at Merrill Lynch as Managing Director and Morgan Stanley as Vice President, according to information made public on his Linkedin profile.
The promotion of Mr. Sinawi at RBC the second noteworthy personnel move this week for the group since the hire Jonathan Yalmokas on Wednesday. Yalmokas joined RBC from Bank of America’s Head of Prime Brokerage in Americas, part of a new initiative to lead its equity financing business.