A former equity derivatives trader at Deutsche Bank who spent more than a decade at the German lender has popped up at Scotiabank. Kaan Onur started earlier this month in New York.
Deutsche Bank has reportedly been “juniorizing” its equities staff in the U.S. as part of its new strategic overhaul. Thousands of cuts were made at the senior level last year, though equities head Peter Selman has been pounding the drum that Deutsche Bank is actually hiring in equities in the U.S. in 2019, only at the junior level. The bank has also made several senior equities hires in London in recent months. The nature of Onur’s departure is unclear. He left Deutsche Bank in January, according to his LinkedIn profile. Deutsche Bank made most of its U.S. cuts last year, though at least one senior exit occured earlier this month. Finra records confirm his arrival at Scotiabank.
Meanwhile, Scotiabank has been taking advantage of the market for equity traders in the U.S. as of late. Just last month, it hired Société Générale lifer Benjamin Messas, the former head of exotic equity trading in the Americas at the French bank. Messas started as a director with Scotiabank in February.
Onur began his career in derivatives trading at Goldman Sachs before leaving to join Deutsche Bank in 2006. He has an MBA from Cornell University along with a master’s in engineering from the same school.
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