UBS hired Deutsche Bank's top quant

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Spyros Mesomeris has joined UBS after a decade at Deutsche Bank, where he was global head of quantitative and global investment solutions (GIS) research.

Mesomeris joined UBS this month, according to his LinkedIn profile. He is global head of quantitative investment strategies (QIS) structuring at the Swiss bank, based in London.

Mesomeris is a big beast in the quant world. In 2018, his team at Deutsche was awarded quant research team of the year by Risk Magazine after both inventing a tool called 'Alpha-Dig', showing how company information moves stock prices, and constructing a database to analyze how ETF flows affect stock pricing. Then, Mesomeris had a team of 12 data scientists called 'DB-Dig' at Deutsche which was recruiting (and which seems to be hiring still under DB chief data scientist Andy Moniz).

Mesomeris might have been expected to quit Deutsche after the bank pulled back from equities in July. However, Risk Magazine said his research team moved from equities to fixed income after the pullback, suggesting Deutsche wanted to keep him. 

Mesomeris isn't UBS's only hire from Deutsche. In September, the Swiss bank hired Stuart Adamson, Deutsche's former director of QIS strats at Deutsche. UBS also added Yann Khoury from Citi as a multi-exotics trader on the QIS team in the same month.

Banks are building quantitative investment teams as algorithmic trading becomes an increasing source of competitive advantantage. As head of the QIS team at UBS, Mesomeris will be overseeing quants who develop and execute quantitative investment strategies (ie. trading algorithms). He's been replaced at Deutsche Bank by Caio Natividade, a longstanding member of the team who's worked at DB since 2002.

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