Deutsche appoints new Japan head of credit

Deutsche Bank has appointed David Schrenzel as head of integrated credit trading in Japan, replacing Jeffrey Zavattero who resigned from the bank last month.

Schrenzel was previously global head of asset-backed securitisation at the German bank, based in New York. In his new role, Schrenzel will head the bank’s Japanese cash bond and credit derivatives trading operation out of Tokyo. However, it is likely that Schrenzel will eventually assume control of the asset-backed securitisation desk as well, according to a bank official.

“He will probably be looking after asset-backed securitisation as well in the future, although the details are being worked out internally,” the official said.