Citi's highly desired traders left for Deutsche Bank, BofA
As we noted in Morning Coffee this morning, rates volatility traders are having a moment. Citi has lost two of them. However, even as hedge funds circle practitioners, Citi's traders are understood to have joined rival banks.
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Dimitry Levin, Citi's head of non-linear US rates trading, has just announced his arrival at Bank of America in New York, where he's in a similar role. Franceso Guercio, Citi's London-based head of gamma trading is joining Deutsche Bank in a role that remains a mystery. Deutsche Bank declined to comment.
As we reported earlier, Mehdi Belhachmi, an interest rate options trader at Morgan Stanley ended up with four job offers when he decided to switch roles this year. Belhachmi initially intended to join Goldman Sachs, but was approached by hedge funds during his period of gardening leave and is now joining ever-popular hedge fund Taula Capital instead.
Deutsche Bank's macro desk can be a lucrative place to sit. Jamie Mansell, Deutsche Bank's former head of European government bond trading, is said to have generated profits of over €200m before moving to hedge fund Balyasny.
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