[ T I M E L I N E
MARCH
2016
Citi managing
director and head
of capital markets
technology, Stuart
Bevan, joins Deut-
sche Bank to lead
equities trading
technology.
APRIL
2016
DECEMBER
2016
Deutsche Bank says it
has cut around 3,400
clients from its Global
Markets business in
equities and fixed
income sales trading.
Execution of equities
trading orders and
all debt and equities
sales trading activity
is closed for many
institutions and hedge
funds.
Deutsche Bank
reorganises its
business structure
under ‘Strategy
2020’ to incor-
porate sales and
trading segments
into its Global Mar-
kets division, amid
downsizing of its
core business units
including Global
Transaction Bank-
ing and Corporate
Finance.
Co-head of global
prime finance for North
America, Scott Carter,
departs Deutsche Bank
to join hedge fund AQR
Capital Management.
AUGUST
2015
A report from Bloomberg states that ten
hedge funds have moved to limit their
exposure to Deutsche Bank and withdrawn
funds, as industry fears grow of major
repercussions of a $14 billion fine from the
US Department of Justice for mis-selling
mortgage securities. Among those with-
drawing funds is $34 billion hedge fund
Millennium Partners and $14 billion Capula
Investment Management.
SEPTEMBER
2016
|
D E U T S C H E
B A N K ]
APRIL
2017
Head of corporate and broker
relations at Surveyor Capital
and Citadel veteran, Lori Arndt,
is hired to lead global equities
client strategy at Deutsche
Bank in newly-created role.
MAY
2017
David Wayne, head of FX at
Deutsche Bank, is appointed to
lead a new team of electronic
traders across equities,
fixed income and currencies.
Deutsche Bank says the move
reflects the growing importance
of electronic trading due to
new rules forcing bilateral
trading onto more transparent
electronic platforms.
Prime finance is cited
as a key reason for
Deutsche Bank’s 28%
decrease in equities
revenue, off the back
of lower margins and
lower client bases.
However, it adds that
client balances have
returned to pre-
September 2016 levels.
JULY
2017
Issue 61 // TheTradeNews.com // 49