Deutsche Bank Securities has hired a managing director for its commodities trading division from Citi as it grows its energy unit and launches an agriculture commodities business, Financial News reports.
John Redpath will serve as the global head of oil products and agriculture trading in Deutsche Bank’s global markets division.
Redpath previously worked for Citi where he headed the global oil and metals trading group. Based in New York, Redpath reports to David Silbert, the global head of commodities.
Silbert said: “Conditions in emerging markets and shifts in dietary habits and weather patterns make this an opportune time to trade agriculture commodities.”
The German bank has been growing its energy commodities division amid fierce competition for top talent.