Jan King is understood to be leaving RBS in London, where he was a vice president on the covered bond desk and had worked as an analyst and strategist.

King joined the UK bank in October 2011 from LBBW, where he had worked for five years.

He previously worked with Frank Will, head of covered bond research, who left RBS for HSBC in late 2013, while a variety of other RBS covered bond team members have left in the meantime.

The CBR understands that King could resurface in Germany after the summer.