Deutsche Bank just lost a top U.S. rates strategist to this hedge fund

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Deutsche Bank could do without people leaving its U.S. business. America is the priority for the German bank this year: so much so that CEO John Cryan has taken personal control of the U.S. business himself. Even so, one of Deutsche's up-and-coming rates strategists has quit for a hot new hedge fund.

Jérôme Saragoussi is joining Light Sky Macro, the New York-based hedge fund set up by ex-Brevan Howard star trader Ben Melkman last year. Light Sky launched March 1st and has already assembled some big names, including Joe Mauro, a former Goldman Sachs partner, as head of markets, and Alberto Ades from Bank of America as chief economist. Investors include Steven Cohen, Louis Bacon and Dan Loeb. 

Saragoussi's exit will leave a hole in Deutsche's U.S. rates team. Institutional Investor ranked him the top analyst in America for Treasury inflation-protected securities last year, and he rose up Deutsche's ranks after joining in 2002 following graduation from the London School of Economics.

Deutsche Bank, of course, neglected to pay any staff above associate level performance-related bonuses for 2016. It did offer retention bonuses to top staff, but they only become worth anything if the stock hits €23 during the first three trading weeks of 2021.  Deutsche stock is currently trading at €17.


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