RBC has poached a senior credit analyst from UBS for its growing junk bond and distressed trading desk
- RBC has added a veteran research analyst to its leveraged finance trading team.
- Srihari Rajagopalan is joining RBC after eight years at UBS, sources told Insider.
- It’s been a growth area for RBC since Adam Savarese joined from Goldman Sachs in 2019.
- See more stories on Insider’s business page.
RBC Capital Markets has added a senior hire to its junk bond and distressed credit desk, a growth area for the firm over the past two years.
Srihari Rajagopalan, a veteran research analyst on UBS’ credit desk, has resigned to join RBC, according to sources familiar with the matter.
An RBC spokeswoman declined to comment. UBS did not immediately respond to a request for comment.
RBC has been building out its high-yield and distressed credit capabilities since former Goldman Sachs partner Adam Savarese joined as head of the trading group in September 2019.
Last spring the firm brought aboard Callie Simpkins, previously a rising star on Goldman Sachs’ leveraged finance sales desk, and Jim Russo, previously a portfolio manager at PointState Capital.
Rajagopalan spent eight years at UBS, specializing in leveraged finance research in sectors including gaming, lodging, leisure, retail, and metals and mining, according to his LinkedIn profile and FINRA records.
Prior to UBS, he spent six years at Deutsche Bank in high-yield research.
This story is developing.