High Turnover in Small Pool of Bond Traders Hits Canadian Banks

Banks are luring former bond traders out of retirement in Canada, as a high level of staff turnover shakes up the government finance sector at a busy time in the market.

Brad Pederson joined Royal Bank of Canada last month as a senior government bond trader, a spokesperson said. Pederson had retired after bowing out from running Canadian rates trading and government finance at Toronto-Dominion Bank.