Deutsche Bank AG, Germany’s biggest bank, hired Chris Yoshida from Morgan Stanley (MS:US) to run global rates sales.
Yoshida will be in charge of fixed-income securities and a range of over-the-counter derivatives, Renee Calabro, a spokeswoman for the Frankfurt-based firm, said in an e-mail today. He’ll be based in New York and report to John Pipilis, head of debt sales for the sales-and-trading unit, Calabro said.
Deutsche Bank has been expanding its U.S. fixed-income division amid an industrywide slump in trading, which JPMorgan Chase & Co. warned may continue through this quarter. Deutsche Bank added seven traders and analysts from banks including Citigroup Inc. and Goldman Sachs Group Inc., according to an internal memo provided to Bloomberg News earlier this month.
Yoshida was previously head of interest-rate distribution in Europe, the Middle East and Africa at Morgan Stanley, Calabro said. He had been with the New York-based bank since 2003, according to regulatory records.
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