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Lofts joins RBS in high-yield expansion

Royal Bank of Scotland has expanded its high-yield credit business in London, adding a new managing director and building its research team.

David Lofts joined as head of high yield and special situations in November; head count in high-yield credit research now stands at six.

Lofts previously worked at US investment bank Jefferies, which has since hired Kenton Jernigan from Calyon as head of European high-yield sales and trading (see story on page 6). Lofts

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