London gilt traders are on the move
Following the excitement in the gilts market earlier this year, London gilt traders, described unfairly by some as participants in a "small market with a lack of talent," have been switching jobs.
One of the switchers is at NatWest Markets. There are unconfirmed reports of others.
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The NatWest mover is Vishal Sheth, a mature gilts trader of 13 years' experience who once attended Warwick University. Multiple sources say that Sheth resigned last week. Sheth did not respond to a request to comment on whether this is so. NatWest declined to elaborate on his whereabouts.
It's not clear where Sheth is going but given that he is only in his mid-30s, he is presumably going somewhere. Given hedge funds' increased participation in the gilt repo market, he may yet turn up on the buyside.
In leaving NatWest Markets, Sheth has left James Bucknall, the bank's head of sterling rates trading. This seems a bold move: Sheth and Bucknall both joined NatWest Markets in 2021 with Sheth arriving a few months after his boss; the two previously worked together at Deutsche Bank. Now Sheth has broken out.
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