Banks make structured products cutbacks in Australia
Departures from Bank of America Merrill Lynch, RBS and UBS come as retail structured products sales have failed to regain momentum following a collapse in volumes since the global financial crisis
A number of leading structured products executives have left investment banks in Australia as traditional retail demand for structured products has failed to reach pre-2008 levels.
Aaron Stambulich, head of structured products for Australia at RBS in Sydney, has left the bank. Stambulich was previously head of public distribution for Asia based in Hong Kong. He joined RBS from ABN Amro after its Australian operations were merged with RBS in 2009. Stambulich was previously head of equity
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