Deutsche Bank Paul Huchro credit trading hires


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LONDON – Deutsche Bank is boosting its credit trading
division to prepare for the end of the ultra-loose monetary
policies enacted by central banks in response to the 2008
financial crisis. 

The German lender hired Paul Huchro, a veteran
of the US credit trading team at Goldman Sachs,
as global head of investment grade credit trading.

Huchro, who spent 30 years at Goldman Sachs, also becomes head of
high yield credit trading in the US and Europe.

Gavin Colquhoun, Deutsche Bank’s head of European credit
trading, said: “We expect to see client activity in credit
increase as monetary stimulus is withdrawn. The hires we have
made over the past 18 months reflect our commitment to being a
leading flow credit house.”

The US Federal Reserve is expected to hike rates several
times next year and in 2019 and shrink its $4.4 trillion balance
sheet as part of a retreat from the monetary stimulus that has
characterised policy in the years since the 2008 crisis.

Meanwhile, the European Central Bank is widely expected to
cut its asset-purchase program within the next few
weeks and the Bank of England has warned market participants that
it may raise rates as soon as November.

Deutsche Bank said that over the last 18 months it has made 21
new hires in European investment grade bond sales, trading and
research, “in response to client demand,” and 19 US hires in the
same period.

US operations have been a key focus for Deutsche Bank,
with CEO John Cryan taking 

personal
responsibility for the US business

 in March this
year. 

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