RBS Poaches from DB for Brazil Sales & Trading

RBS, which acquired the US-based LatAm business of ABN AMRO, is heard building up a sales and trading effort in Brazil, seeded with 3 recent Deutsche Bank hires. The group, to be eventually based in Sao Paulo, is heard headed by New York-based Pinar Gurler, an MD in charge of distribution and derivatives solutions for LatAm, formerly at ABN. She has hired Ricardo Bicudo, a senior Deutsche Bank fixed income executive who will be head of Brazil sales at RBS. He is joined by two other Deutsche fixed income staff – Cassio Silbermann and Carlos Simonetti – who also recently quit the firm. Gurler is said by headhunters to be looking to poach more talent in Brazil and RBS appears to have long term plans for Brazil – it is applying for a bank license with central bank. Deutsche, which also lost several senior Brazil people to Itau in recent months, is heard preparing to replace Bicudo, who worked on local market securitization, among other things. Deutsche Brazil officials were not available for comment.