RBS swoops on market-making head at Altium

THE PARTLY government-owned bank RBS has poached Craig Leppard, head of market-making at Altium Securities, offering him a big uplift in salary to change jobs.

Leppard, who joined Altium from Numis Securities, will head up a team at RBS trading in FTSE 250 stocks.

His move, which was announced yesterday to Altium staff, will further fuel fears amongst the City’s smaller banks about the increased basic salaries being offered by their larger rivals.

Earlier this year Arden Partners lost its financials team, headed by its former chief executive Jeremy Grime, to Royal Bank of Canada, which offered mouth-watering packages to the new recruits.

Mindful of the public furore over large bonuses and keen to get on the right side of tighter regulation, many larger banks have increased the basic element of employee remuneration, making salary packages look more attractive.

Altium announced yesterday that it had made two recruits.

It is hiring Grant Harrison from Lloyds to be a managing director in its corporate finance team, and Fahad Changazi joins to cover the financials sector.