Deutsche Bank also hired Morgan Stanley's head of macro sales

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Deutsche Bank also hired Morgan Stanley's head of macro sales

Deutsche Bank has, in fact, made two major hires who previously worked for Morgan Stanley's London macro team this week.

Alongside Guy Winkworth, whose move we announced yesterday, the German bank has also recruited Richard Blacker, Morgan Stanley's former head of European macro sales. 

Blacker, who left Morgan Stanley in early 2020, is understood to be joining Deutsche as head of hedge fund coverage across the macro businesses and in a senior management role in the rates business. He spent seven years at Morgan Stanley and previously worked for RBS, Nomura, Lehman Brothers and Goldman Sachs. At Deutsche, he will report to Mark Tiernan and Ersen Ustaoglu (co-heads of macro sales for Europe) and then to Panos Stergiou, global head of macro sales and head of ICG Europe.

Winkworth and Blacker are the latest in a series of hires from Morgan Stanley into Deutsche Bank's rates business. -  Josh Hooker, Morgan Stanley's former head of G3 (U.S., Japan and the eurozone) rates trading also joined in late 2019, followed by Alok Modi, Morgan Stanley's former head of macro trading in Asia, in January 2020.

Deutsche Bank was one of the more generous payers in the 2020 bonus round.

Morgan Stanley, meanwhile, has been losing people in its fixed income business to other sources too. - Neil McLeish, the bank's former global head of fixed income research, left in January to study the Sloan Masters Programme in Leadership and Strategy at the London Business School.

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