 "Deutsche ramps up Asia-Pacific equity-derivatives unit")
Deutsche Bank AG is beefing up its Asia-Pacific equity-derivatives unit, as it looks to capitalise on an expected rise in demand for quantitative strategies from local investors.
David Bruchet, formerly of Societe Generale SA, will join the German bank in Hong Kong as an index equity-derivatives trader at the end of January, said James Boyle, head of equities and co-head of global equity derivatives, who joined from Citigroup Inc. in July. Bruchet becomes at least the sixth hire in the region under Boyle, who is putting in place his strategy to turn around Deutsche Bank’s fortunes in equity-derivatives trading. Chief Executive Officer John Cryan is seeking to boost stock-trading operations while pulling back from other investment-banking businesses that are grappling with new capital rules and the cost of settling legal problems.