|
|
Vassilis Paschopoulos Benedicte Gravrand, Opalesque Geneva for New Managers:
In 2013, Deutsche Bank consolidated its investment-grade debt and asset-backed securities trading units in London to cut costs and riskier holdings. Deutsche’s head of European Credit Trading, Vassilis Paschopoulos, decided to leave. Paschopoulos joined the bank in 2011 but had worked there before for six years. Two other traders, Alexis Serero and James Nowak, had left shortly before him to join Citigroup and Goldman Sachs respectively.
Deutsche Bank had said in 2012 that it would cut €4.5bn of costs annually through 2015 by firing bankers, merging units and moving support staff to lower-cost locations, reported Bloomberg. At that time, Bjoern Wiegelmann, a credit trading director, left Deutsche for Citigroup, and Antoine Cornut, Deutsche's head of flow-credit trading, left to start his own hedge fund (from the latest we heard of it, Camares Capital is doing well).
For now, Deutsche’s fixed-income trading revenue fell 2% to €5.69bn ($7.1 billion) in the first nine months of 2014, ...................... To view our full article Click here
|
|
RSS
