Deutsche Bank's entire U.S. exposure risk management team has turned over in the past year, with eight analysts leaving the group. The group quantifies risk on a variety of structured products, equities, derivatives and commodities.
In little more than a year analysts Nesan Srivamadevan, William Chan,Qing Yan, Liping Wang,Scott Grob, Mohit Dayal,Krishna Ravishankar and Jim Anderson have all left the U.S. group. The group has also had three regional heads--Sajjad Ahmed Cheema, the current head, replaced Colin Kim, who replaced Sebastian Zugman.
A move to shift the group's analysts from specialists to generalists contributed to the turnover. Anderson, a mortgage-backed securities analyst, said he was asked to assess the risk of commodities, emerging markets and equity derivatives. Cheema's management style also was a factor and he did not appreciate the complexity of the sectors they covered, Anderson added. "He's said, 'All I have to do is talk to a trader and I can understand the market,'" Anderson said.
Miroslav Visic is the sole securitization expert left in the group. This has not gone unnoticed by other parts of the bank. "Group heads in credit departments have complained to me [the new hires] don't know what they're doing. There's certainly a lot less confidence in exposure management," an official said.
Cheema declined comment and Mausumi Paul, global head of exposure management, declined comment.
