Deutsche drops three and takes closer control of equity derivatives trading

Michele Gissi and Roger Naylor have been named by Deutsche Bank as the new co-heads of global equity derivatives, following the departure of Richard Carson, head of global equity derivatives (GED), Nino Kjellman, head of Asia equity derivatives, and Andrew Kent, a trader in equity derivatives. Gissi’s and Naylor’s have been promoted to enhance the control the bank has over its equity derivatives business.

The change in structure and personnel comes in the immediate aftermath of the posting of around US$400 million of losses in equity derivatives trades.

Gissi joined Deutsche Bank in 1996 as a market maker on Italian equity options in Milan. He moved to running the index derivatives desk in London and transferred to New York in April 2005 to run GED North America. He will remain in New York in his new post.

Naylor started at Deutsche Bank as a graduate trainee in June 1998 and has since held