As Société Générale pulls back from some of its riskier trading activities, some of its senior staf may be picked up elsewhere.
Deutsche Bank is no longer in the market for equity derivative professionals but it's still open to recruiting in the booming area of macro trading. Accordingly, it's scooped up a SocGen MD who previously led structured finance hedging in London but who had a background in rates and FX sales.
Jean-Philippe Castellani joined Deutsche Bank in London this month. According to his LinkedIn profile, Castellani will be head of sales for Southern Europe and the "FraBeLux" region and will lead DB's FX risk management solutions teams.
Deutsche Bank declared its intention of restarting job cuts in May 2020. However, the German bank has also been recruiting in fixed income sales and trading, where its revenues rose 25% year-on-year in the first half of 2020. Data from Burning Glass suggests that Deutsche was one of the biggest banking recruiters in the UK and the US between May and August this year.
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