Deutsche Bank has moved around several of the major players in its equity derivatives group in order to separate the business lines. The changes stem from a reshuffle in Asia, in which Nick Fennell, managing director in Hong Kong, has transferred to Tokyo to be head of program and relative-value trading for Asia Pacific and Japan. In addition, Ricardo Honegger, managing director and European head of flow derivatives trading in London, is flying out to Hong Kong to become head of equity derivatives sales and trading for the region, according to Yassine Bouhara, global head of equity derivatives in London.
The reorganization is an after effect of the firm's separation of its global equities group into four: equity prime services; convertible bonds; program trading and equity derivatives, in March (DW, 3/10). Bouhara said the move means he and David Baker, global head of program trading, will both have a head of Asia reporting to them rather heads who cross business groups and report to both of them. Honegger and Fennell will also report to Michael Reeber, managing director, on a regional basis.
Noreddine Sebti, managing director and head of structured trading in London, will take on Honegger's responsibilities.
