RBS loses real estate derivatives pioneer Ljubic

Phil Ljubic, one of the most experienced traders in property derivatives, has left Royal Bank of Scotland.

Ljubic had been involved in the derivatives market almost since its inception about seven years ago and is well-known by all the market’s participants.

Working under RBS head of ABS trading Pradeep Pattem, Ljubic was instrumental in establishing RBS as the leading bank in the derivatives market.

RBS will continue to make a market in property derivatives and to advise clients, under Alex Winward, who will now head the desk, and Stephen Gent. The pair also work on credit derivatives.

Derivative trading volumes have fallen in the past two years and the £53m of trades in Q3 2012 was the lowest figure ever.

There is interest on the buy-side, particularly from fund managers, but less interest on the sell-side and many of the banks that originally participated pulled out several years ago.