Deutsche Bank has hired a residential mortgage-backed securitization banker from Barclays Capital. Paul Weitzkorn, an associate director, is the second banker to leave Barclays' London-based RMBS team in as many weeks (BW, 5/5). A Deutsche insider says there are no further hiring plans for the firm's European securitization team for the time being.
Weitzkorn will report to Michael Raynes, head of European securitization in London. He will start at Deutsche Bank in a few months at the v.p. level, says Stephanie Smart, a Deutsche Bank spokeswoman. Weitzkorn is currently on 30-day "gardening" leave. Earlier this month, Chris Marks, a director in Barclays' RMBS group left to join U.K. mortgage company Kensington Mortgage Company.