Credit market veteran Jonathan Moore is set to join Deutsche Bank later this month as head of European flow credit sales and trading, according to sources familiar with the matter.
Moore was most recently co-head of credit trading at Credit Suisse, which he left earlier this year amid swingeing cuts at the Swiss lender. Moore, who had worked at CS for around two decades, couldn't be immediately reached for comment.
Deutsche Bank has made no secret of its intentions to expand in credit trading as it has enjoyed a widespread revival in its fixed income division in recent years. The bank hired Manav Gupta from Goldman Sachs in 2019 to spearhead a planned expansion in trading of simpler "flow" credit products and has recommenced dealing in instruments such as single-name credit default swaps that it had dropped several years previously.
Deutsche Bank's fixed income and currency trading revenues increased 22% to €5.2bn in the first half from the same period in 2021, though the bank said credit trading revenues were significantly lower in a challenging environment.