Global securities and investment banking firm Jefferies, the principal US operating subsidiary of Jefferies Group, hired Royal Bank of Scotland (RBS) veteran Cyril Paillard to fill the position of managing director in mortgage- and asset-backed securities (MBS and ABS) sales in Paris. There, Paillard will cover institutional clients in France and Northern Europe. “Cyril’s industry knowledge, extensive experience and broad base of relationships will significantly enhance our MBS/ABS capabilities in Europe," said Johan Eveland and William Jennings II, co-heads of global MBS/ABS, in a joint statement. "France and Scandinavia are key markets for our business, and Cyril will make a strong and immediate contribution as we continue to expand Jefferies’ MBS/ABS platform to bring additional products to both existing and new clients.” Paillard joins the firm from RBS, where he served as the Europe, Middle East and Africa (EMEA) head of credit structured products and solution sales. With 18 years of industry experience, Paillard was previously head of fixed income sales for France at ABN Amro and EMEA head of credit and alternative sales. The addition marks the latest move toward developing Jefferies' global MBS/ABS group, which now includes almost 90 securities sales professionals based in the US, London, Paris, Tokyo and Hong Kong. Paillard will work closely with Marion Guilbert -- who joined the London office in mid-2009 -- and will report to Steve Hulett and Craig Tipping, co-heads of the firm's European MBS/ABS unit. Write to Diana Golobay.