Deutsche Bank hired a Goldman Sachs ED for its rates team
After the past few years' heavy hiring for its rates sales and trading team, Deutsche Bank was expected to recruit less enthusiastically this year. However, it's understood to be adding an executive director (ED) from Goldman Sachs in London.
Sources say the German bank has recruited Christopher Henry, a Goldman Sachs ED in hybrid interest rate sales. Deutsche declined to comment and neither Goldman nor Henry himself responded to our enquiries.
Henry's apparent exit follows that of Nohshad Shah, Goldman's co-head of EMEA interest rates sales and rates trading managing director Ishaan Seth for hedge fund Marshall Wace. It also comes after bonuses in the Goldman macro team were seemingly disappointing for last year, and after Shah in particular was overlooked in Goldman's 2022 partner promotions.
Deutsche Bank's rates sales and trading revenues increased 400% in the fourth quarter of 2022. The bank made various additions to its rates team last year, including Ben Black as head of its London SSA (Sovereigns, supranationals and agencies) trading in London. Speaking at the time of the bank's fourth quarter results announcement, UK & Ireland Chief Executive Officer Tiina Lee, told Bloomberg the bank is looking to "strategically adjust headcount," while hiring “particularly where there are adjacencies to our existing businesses."
Lars Humble, head of SSA Syndicate is also understood to have left Goldman in London this week.
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