Rogerio Bernardo, previously a Singapore-based director on Royal Bank of Scotland’s bond syndicate team, has resigned from the bank after 16 years.
Bernardo’s move is the latest in a round of musical chairs on the debt syndicate front. There has been a fair bit of movement this year amid an uptick in bond issuance. And while markets have slowed down considerably of late, the issuance chalked up during the first five months were at record levels.
In March, two syndicate bankers — Hital Desai and Devesh Ashra — left Credit Suisse to join Bank of America Merrill Lynch. Following that, Ashish Malhotra, who was previously Asia head of DCM at Bank of America Merrill Lynch, left to head up Standard Chartered’s Asia syndicate desk. More recently, Terence Chia, who was previously co-head of bond syndicate for Asia Pacific at Citi, left to join Credit Suisse.
According to a source, the bank is looking to replace Bernardo, so there could be more movement ahead. Bernardo’s departure comes months after Augusto King, previously the Asia head of debt capital markets, resigned from RBS in March to join rival firm Jefferies.
