Deutsche Bank, whose securities financing and prime brokerage businesses have undergone ructions recently, have reshuffled the management team of the Global Prime Services (GPS) business, headed globally by Nick Roe.
Frank Nelson, formerly Global Co-Head of GPS Sales, has been appointed Global Head of GPS Sales. Mark Haas, formerly Global Head of Client Transition, has been named the Global Head of Prime Brokerage. Ben Sofoluwe, Lane Hocking, and Paul Busby have been appointed to Head GPS Securities Lending in Europe, Asia and North America, respectively. Jane Hammond has been appointed Global Head of Securities Lending Sales, reporting to Nelson. Richard Kennedy has been appointed Global Head of Structured Products. Penry Jackson has been appointed Global Head of Synthetic Trading. Fred Bird will be responsible for Non-recourse transactions executed by GPS clients in addition to his current responsibilities as Global Head of Risk Management for GPS.
“The GPS team continues to evolve and strengthen within the recently combined Global Markets and Global Equities division, and I feel strongly that this new structure will best service the needs of our clients,” says Roe. “The promotion of these new managers, combined with the seasoned global managers on the platform, provides stability and will allow us to continue to expand and enhance GPS as we aim to be the top global provider of Prime Services.”
Other members of Roe’s management team include Mark Harrison, Head of International Prime Brokerage; Tom Kerns, Global Head of Client Reporting and Product Integration; Greg McCafferty, Head of Prime Services, Asia; Chris Caruso, Head of Prime Brokerage, North America; and Sean Crowley, Chief Operating Officer for GPS.
“GPS continues to expand its product and services offering and has recently migrated Foreign Exchange, Credit and Fixed Income products onto its platform,” adds Roe. “As our hedge fund clients look for sophisticated bespoke solutions this will help us deliver a full range f products and structures to them.”