Zihlman also left the FX options desk at Commerzbank in London in the past few months, having joined in January last year. He had previously spent seven years at Credit Suisse First Boston, trading vanilla and exotic options at its London and Zurich offices.
Mostachfi and Zihlman’s departures from Commerzbank were part of a string of FX defections from the German bank. Alison Fletcher, head of FX sales in the UK, left Commerzbank in October to join ABN Amro in London. She joined the Dutch bank in January and works in the corporate client risk advisory team.
FX sales dealer Martin Bean left Commerzbank the same month. He has since joined Boston-based bank State Street in London on the real-money FX sales desk.
Commerzbank also remains without a global head of foreign exchange following Edward Voorhees’ departure in April last year. Ricardo Pascoe, head of corporate risk structure is currently temporarily responsible for forex.