Now Deutsche Bank poached a trader who just joined NatWest
Deutsche Bank may have had a reminder of its own vulnerabilities last month, but it still seems to be hiring with some of the vigour of early 2022.
So far this month we count at least three new additions to the credit team. And they don't all come from Credit Suisse.
Deutsche's latest hire is Michele Beretta, a Euro government bonds trader whom we last wrote about in November when he joined NatWest in Milan. Four months later, Beretta has resurfaced at Deutsche Bank in London, where he'll seemingly be doing the same job.
His arrival follows that of Aleksandar Doric, who also joined Deutsche's European government bond trading this week, from Erste Group, a retail bank in Austria.
And, continuing last year's run of Credit Suisse recruits, Basel El Asmar, who left Credit Suisse's credit sales team in February, has just revealed that he too is now at Deutsche Bank in Frankfurt.
The rush of new recruits comes after Deutsche promoted 33 new managing directors in its fixed income business, which generated now less than 89% of revenues in Deutsche's investment bank last year.
Deutsche had indicated that it would slow the pace of hiring in 2023. Clearly, there are exceptions.
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