RBC Hires Dan Hoffman to Oversee U.S. Securitized Product Salesby
Hoffman is based in New York, reports to FIC head Jeff Fields
RBC seeks to expand U.S. market share in fixed-income sales
Royal Bank of Canada hired Amherst Securities Group LP’s Dan Hoffman as head of U.S. securitized product sales for its capital markets unit in New York.
Hoffman, 55, will oversee sales of products including residential and commercial mortgages and asset-backed investments, Toronto-based RBC Capital Markets said Tuesday in an internal memo. He reports to Jeff Fields, head of North American fixed-income and currency sales.
Royal Bank, Canada’s second-largest lender, has been seeking to expand its fixed-income and currency sales business in the U.S. In August, the firm hired Deutsche Bank AG’s Andrew Haynes to run U.S. rates and agency mortgage sales, and promoted Haider Ali to a new position in July overseeing algorithmic strategies for fixed income and currencies.
Hoffman previously worked at Royal Bank of Scotland Group Plc and Bear Stearns Cos., where he headed securitized products and interest rates sales, according to the memo. He was a senior managing director in fixed income at Amherst since May 2010, according to his LinkedIn profile.