Deutsche Bank Prop. Trading Chief Quits For Hedge Fund Post

Jul 14 2010 | 12:51pm ET

Deutsche Bank’s head of proprietary stock trading is leaving the firm to join a hedge fund.

It is unclear which hedge fund Pablo Calderini will work for. What is clear is that his 14 years at Deutsche Bank are over, as the German bank moves to get out of the prop. trading business. Deutsche Bank has slashed the amount of capital available to Calderini’s desk by 90% and closed its proprietary credit trading desk. Calderini’s own unit will now be merged into Deutsche Bank’s equity flow business, Bloomberg News reports.

“Pablo has led the development of a number of cornerstone businesses in our sales and trading platform,” Anshu Jain, head of investment banking at Deutsche Bank, said in an internal memo announcing Calderini’s exit. “Most recently Pablo led our equity proprietary trading business, including its successful transformation since the crisis to a highly-liquid, less capital-intensive strategy.”


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note