Deutsche Bank Said to Cut Up to 10 London Credit Traders
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Deutsche Bank AG cut or moved as many as 10 traders of credit-default swaps in London and related indexes as it trims that part of its fixed-income business amid new regulations, said people with knowledge of the matter.
Josh Farber and Melvyn Merran, who traded credit-derivatives indexes, and credit-swaps traders Colin Webb, Dray Simpson and Fionn O’Leary were let go, according to the people, who asked not to be identified because they’re not authorized to speak publicly. Another three to five swaps traders either had their positions cut or were moved to other jobs as the bank eliminated at least 20 positions across its markets business, the people said.