Deutsche Bank unexpectedly pulled an offer to hire a top executive at the last minute (DB)

pulse

June 22, 2017 10:22 PM

The bank recently made an offer to hire Rob Allard, a former Deutsche Bank executive who ran the structured product sales team once.

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Deutsche Bank unexpectedly pulled an offer to hire a top executive at the last minute, people familiar with the matter said, delaying its efforts to end churn at its fixed-income operation.

Suzanne Cain, who had been European head of debt sales, left for a role at BlackRock in February. Her departure was followed by that of Kevin Burke, who held the same role in Asia.

The departure of Gallo meant that the global head, the US head, the European head, and the Asian head of fixed income sales either moved internally or left in 2017.

Deutsche Bank reported debt sales and trading revenues of €2.3 billion in the first quarter, up from €2.1 billion in the first quarter of 2016. The bank cited strong revenues in credit and rates in particular.

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