Deutsche Bank has promoted its global head of hedge funds to jointly run its equity prime brokerage unit in an effort to further develop the business.
Barry Bausano, previously global head of hedge funds, becomes co-head of equity prime brokerage alongside Jonathan Hitchon.
Bausano will be responsible for the client facing aspect of prime brokerage, while Hitchon, who was previously global head of prime services, will be product focused.
They jointly report to Yassine Bouhara, head of global markets equity, and to Alan Cloete, head of global finance and foreign exchange.
Mel Gunewardena continues as global head of fixed income prime brokerage, reporting to Cloete.
Bausano joined Deutsche in July 2002 from Red Wolf Capital Management, a company he founded. Previously he worked in Moore Capital Management's Asian markets business after running a macro group at hedge fund Tiger Management.