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Deutsche Bank's structured credit team made another Morgan Stanley hire

Deutsche Bank is the big hirer du jour of investment bankers. Last month, the German bank revealed that it had hired 75 managing directors and directors in the previous 18 months. However, the recruitment is not restricted to investment bankers.

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Alongside its M&A and capital markets hires, Deutsche has been adding to its European structured products team. This month, it recruited Alessandro Cassaro, a former vice president at Morgan Stanley who's joined DB in Milan as an executive director on Deutsche's cross asset solutions team.

Cassaro isn't Deutsche's only Morgan Stanley hire. Last year, the German bank recruited Sean Flanagan, Morgan Stanley's global co-head of quantitative investment strategies as global head of QIS and dbSelect trading, sales and structuring. Flanagan is based in London. 

Deutsche Bank also made the most of talent leaving Credit Suisse. Last year, it added Ulisse Malfanti from Credit Suisse as a VP in Zurich. In 2022, it added Paul Bajer from Credit Suisse as its global head of cross asset structuring. 

Sources say the new team has gained market share. However, Deutsche warned in June that revenues in its fixed income sales and trading business fell in the second quarter. 

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AUTHORSarah Butcher Global Editor

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