RBS has hired Paolo Pascarelli as a director of its European high-yield team in London and strengthened its German leveraged finance team with the promotion of Stuart Hewer to director. He will also lead one of the bank's deal teams in Frankfurt.

Pascarelli was previously a member of the leveraged finance group at Credit Suisse First Boston. In his new role, Pascarelli will originate and execute high-yield transactions for European companies and financial sponsors, reporting to Nick Coates, head of European high yield.