RBC Secures High-Level ANZ Banker for Debt Syndicate Desk Leadership Role

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Royal Bank of Canada (RBC) has appointed ANZ Bank veteran Mark Smith to lead its Debt Syndicate desk.

RBC Capital Markets has recently recruited Harald Eikeland, an experienced ANZ banker, to be the head of their debt capital markets syndicate desk – marking yet another senior loss for ANZ this month. Sources within are aware of this move.

Starting on Tuesday, Mr Eikeland will begin his journey with the Canadian investment bank after a noteworthy tenure of nearly 18 years at ANZ. During this period, he held an esteemed position as director for their DCM syndicate desk.

“We are delighted to have Harald Eikeland as part of our team. His deep knowledge and experience of the debt markets will be invaluable in helping us deliver the best possible outcomes for our clients,” said Daniel Kennedy, Head of Global Capital Markets at RBC.

One week after Street Talk divulged that Leo Yang had abandoned ANZ’s leveraged finance capital markets desk in favour of a new portfolio management job at Aware Super, Harry Eikeland took his leave from the same Australian-based position. His superior will be Natalie Vanstone, RBC Capital Markets’ leader for global markets down under.

The senior banker will collaborate with RBC’s capital markets division and sales and trading professionals.

The latest recruitment marks the end of an active month for Australian-dollar-denominated bonds, per Bloomberg data. Local banks have been driving much of the activity by raising over 18 billion AUD through currencies such as euros and US dollars.

While overseas investors are keen to capitalise on the market’s volatility and invest in higher-grade financial institutions, borrowers have no choice but to compensate fixed-income investors with increased yields as interest rates rise. This has resulted in a renewed influx of bondholders seeking financial stability through investment-grade opportunities.

RBC’s recruitment of veteran ANZ Banker Harald Eikeland to lead its Debt Syndicate desk is yet another indication of the impact interest rates have on global debt markets. With RBC now having an experienced leader in this space, they will be well-positioned to take advantage of the current market volatility and help their clients achieve their desired outcomes.

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