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Top quants are leaving Deutsche Bank's remaining equities strats team

If you're a strat at Deutsche Bank and you work on the bank's "Jaguar" equities strats platform, you might be wondering what's coming next. - After all, the bank is exiting the equities business and your services will ultimately be surplus to requirement. 

This might be why two of Deutsche's top equities strats are understood to have left the bank in New York City. - Insiders say Charlie Che resigned and that another exit is imminent.

Deutsche isn't commenting on the two men's resignations, which were confirmed by insiders. Che joined DB from Goldman in 2014 and was the bank's head of U.S. equity derivatives strats, covering flow, exotics, corporate derivatives and quantitative investment strategies (QIS). 

Although Deutsche is shuttering its equities business, equities strats are still needed by the bank. Che is thought to have been part of the Capital Release Unit (CRU) which is winding down Deutsche's remaining hybrids, corporates, convertibles and QIS books. 

DB insiders suggest Deutsche is lacking equities strats expertise. Miguel Barrio, a New York-based managing director and the former global head of equity strats resigned in early July, along with Stuart Adamson, head of quantitative investment strategies strats. Che was subsequently one of the most senior equities strats remaining at the bank in New York.

Deutsche does have another strats team, however. Alongside 'Jaguar' the bank developed 'Kannon,' a fixed income currencies and commodities strats system, which is still fully staffed. Insiders say the two teams were bitter rivals until this point. "Most of the equities strats have resigned rather than joining the CRU or Kannon," says one. 

Photo by Brandon Holmes on Unsplash

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AUTHORSarah Butcher Global Editor
  • so
    sonia sheydyvasser
    28 May 2022

    what is this k annon who uses this platform is it a publisher or a managed futures. call minus put is dense in Q. what is this options/futures pips

  • Pr
    Private Citizen
    8 September 2019

    The hits just keep coming for DB:

    Wonder when the regulators say enough is enough.

  • Sr
    Srivatsa Sathya Prasad
    28 August 2019

    Enough of Deutsche Bank.... Almost half of the investment banks and other companies are laying off too . DB did get into fines and penalties. They were transparent when things didn't work out.
    The analysts from other companies commented
    DB's move on equity exit. But when you see the market move you can also notice many other investment banks laying off their employees.
    I am wondering if someone is paying media agencies to publish all the negative things first about DB.

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