RBC Capital Markets today announced the appointment of David Watt as a senior foreign exchange strategist.

Watt joins RBC Capital Markets from another major Canadian investment bank where he had been a senior economist for over five years. He has previously worked as a senior economist at the Bank of Canada and holds a Master of Arts (Economics) from Queen’s University.

Based in Toronto, Watt will report to Monica Fan, RBC Capital Markets’ Global Head of FX Strategy in London, where he will cover the Canadian and American currencies.

“David is a welcome addition to our global currency research team,” said Fan. “His experience in analyzing the Canadian and American markets continues to enhance our foreign exchange research team’s ability to provide clients with valuable insights into the markets and trading strategies globally.”

RBC Capital Markets’ foreign exchange research team was ranked 7th globally for both short term and long term research by Euromoney in its 2006 foreign exchange survey. Euromoney also rated RBC Capital Markets the top FX bank globally in Canadian dollar trading, and 2nd in North America and 7th globally for the Most Impressive Approach to FX.