Deutsche Bank restructures credit trading unit

Deutsche Bank has made structural changes to the management of its global credit trading division.

The German bank said Boaz Weinstein will head credit trading in the important North America and Europe markets, instead of running credit trading for the Americas. He will also work alongside Wayne Felson, global head of complex risk, in heading global credit correlation in New York.

The European credit trading arm had previously been headed by Antonio Di Flumeri, who will now report directly to Weinstein following the restructuring. Meanwhile, Di Flumeri will take on extra responsibilities in a new role alongside Bertrand Des-Pallieres as co-head of global structured credit trading.

Earlier this year, Deutsche experienced some high-level changes in the division. Former head of exotics Mark Stainton was poached by the hedge fund Citadel, and Deutsche Bank hired Derek Smith, former managing director and head of credit derivatives trading at Goldman Sachs, in October. Smith is now a managing director in Deutsche Bank’s global market trading unit.

All positions will report to Rajeev Misra, head of global credit trading.