Layoffs at RBS herald tough times for CDO bankers

Royal Bank of Scotland has laid off a quarter of its New York collateralised debt obligation team, following the departure of Rick Caplan, the bank's co-head of CDOs, earlier this month, in what could be the first of a wave of cuts in the structured products market.

Six out of 24 members of the CDO team have left the bank. RBS says the cuts are "to bring [the CDO team] into line with the realities of market volumes", adding that it does not expect volumes to recover. Caplan's fellow co-head, Fred

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here