Royal Bank of Scotland (RBS) has recruited Klaus Svendsen and Paul Gordon-Brown to the credit trading team in London, which is part of the bank's capital markets business.

Svendsen joins from Morgan Stanley to head the Euro medium term note (EMTN) business at RBS, reporting jointly to Stewart Booth, head of credit trading, and to Rob Jolliffe, who joined RBS as head of primary market origination from Goldman Sachs in July. Svendsen held a similar role at Morgan Stanley.