Deutsche hires hedge fund staff for sales

Peter Roemer, who last month joined Deutsche Asset Management as European head of institutional business, has made his first hires to expand his sales team in the Netherlands and France.

Brian Urban, formerly responsible for funds of hedge funds sales at Dutch merchant bank NIBC, has joined as head of institutional for the Netherlands.

He will be based in Amsterdam and report to Peter Kerger, head of institutional distribution for Europe.

Stéphanie Schmidt has joined as a vice-president in Thibault Amand's institutional sales team for France. Schmidt also has a background in alternatives, joining from ADI Alternative Investments, one of France's largest hedge fund managers.

Roemer, who joined a year after Deutsche scaled back its ambitions by selling off its UK fund management arm to Aberdeen Asset Management, was hired to boost the institutional business in Europe.

Roemer described the Netherlands and France as "key growth markets" for Deutsche Asset Management.

DeAM's plans for European growth contrast with predicted staff cuts for its US business. Financial News reported yesterday its 20-strong high-yield bonds team in Philadelphia is facing cuts after management of the funds was moved to New York.