One of the latest developments in Jersey is the launch of a capital markets division by Royal Bank of...
Robert Begbie, director of treasury and capital markets at RBSI, said that the creation of the team was part of the group's strategy to provide the most comprehensive treasury and capital markets solution in the offshore industry.
He commented: "The service is designed to be able to provide solutions in more complex capital markets products such as credit derivatives and enhanced yield deposit products.
"The team will provide investment solutions to client requirements in all fixed income products. It will also be able to provide solutions in more
complex capital markets products, such as credit derivatives and enhanced yield deposit products."
The division, headed by Miguel Arruya was set up primarily to service the needs of the Bank's corporate and institutional client base and to cover the requirements of the bank's high net worth individual clients.
Arruya joined RBSI to head up the Capital Markets team in July 1998. Previously he was the Jersey-based director for Mathesons Securities, where he specialised in the fixed income markets.
The team has been created to complement the bank's existing Treasury function and will offer three fixed income services - execution only, advisory dealing and advisory portfolio management.
RBSI is supported by a dedicated in-house research department that provides both fundamental and technical analysis of the major bond and currency markets. This is complemented by a comprehensive analysis of the sterling debt market. RBSI also has access to external research provided by market counterparties.
Cameron McPhail, chief executive of RBSI, said: "Our treasury business is positioned as a leading operation offshore and the introduction of a specialist capital markets team will further reinforce that position and enhance our services to corporate clients."
Minimum trading sums will vary from market to market. Prices for trading sums in Eurobonds below £25,000 may be disadvantaged or even unavailable, while for government securities the minimum sum will be closer to £100,000 and for government securities closer to £500,000.
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