RBC Fires Bond Salespeople in `Challenging Market'

Bloomberg, Caroline Salas, 21 September 2007RBC Capital Markets, the investment-banking arm of Canada's biggest bank, is firing employees in its U.S. fixed-income division as a slump in credit markets curbs revenue on Wall Street.The Toronto-based bank reorganized its U.S. fixed income unit "in the face of challenging credit markets," Chuck Powis, head of U.S. fixed-income sales in New York, said