A Deutsche Bank equities salesman just landed at a top hedge fund
It's nearly two months since Deutsche Bank's day of dread and some of the equities professionals it deemed surplus to requirement are arriving elsewhere.
Among them is Paris Christofides, a former Deutsche Bank director in U.S. equities sales. Christofides has just joined hedge fund Odey Asset Management according to his LinkedIn profile.
Christofides arrives at Odey at what might be an exciting time for the $4.25bn fund. Crispin Odey has spent around £300m ($363m) shorting UK equities in the expectation that UK share prices will fall. Coincidentally, he also donated £870k to the leave campaign and £10k to Boris Johnson's bid to become prime minister.
Christofides spent nine years at Deutsche after joining from Citi in 2010.
Odey Asset Management's most recent accounts, for the year ending April 2018, show it employing 52 people (down from 69 one year earlier) and paying them an average of £170k each, which is somewhat lower than the £543k average paid at Millennium. Odey employed 14 partners during the year, the highest paid of whom (presumably Odey himself) earned £1.5m, down from £5m a year earlier.
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