Deutsche Bank will reorganise its securitised products group (SPG), the bank said yesterday. It will merge its collaterised debt obligation business with credit hybrid business within the SPG group.Brian Zeitlin and Mark Stainton will manage the merged CDO and credit hybrid business. Stainton reports to Rajeev Misra, head of integrated credit trading (ITC).
SPG is to be headed jointly by Richard D’Albert, who will focus on the US, and Michael Raynes, who will oversee Europe. Other regional heads are Raj Shourie, who heads Asia, Glen McDowell, in charge of Australia, and Naohiro Nishida, who runs Japan. They will report jointly to D’Albert and Raynes, as will Zeitlin.
Deutsche Bank said the first quarter this year was the best quarter ever for the securitisation business. “With SPG and ITC coming closer together, the synergies that exist between asset sourcing, structuring, distribution and alternative forms of credit derivatives exits will lead to further benefits for our clients,” said Misra.
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