Four of the US debt team have left Credit Suisse First Boston. They are believed to be joining their old boss John Walsh at Royal Bank of Scotland. CSFB has confirmed the departures, but RBS in London could not confirm the hires.

Walsh, the ex-global head of debt capital markets at CSFB and a 14-year veteran of the European and US bond markets, has been head of RBS's North American corporate capital markets for a month. He was hired to spearhead a push into the US debt market.