Deutsche Bank Traders Leaving for Hedge Funds

I think I remember saying how prop trading opportunities were dying in banks LONG ago… it sees like the hedgy and P/E space is about to get more crowded. Few years back we all were already discussing how the banking models and financial landscape was gonna change from reform. I looks like we are seeing the beginning of it.

-snapman



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Deutsche Bank Traders Leaving for Hedge Funds
Two Deutsche Bank proprietary traders are leaving for the hedge fund world as financial reform that would limit bank trading desks looms.

Pablo Calderini, who headed up the bank's proprietary equities trading is leaving for an un-named hedge fund firm, according to Bloomberg.

Calderini, whose background is in emerging markets and derivatives trading, helped Deutsche Bank build its emerging markets business during his 14-year tenure with the bank.

Also leaving the bank's proprietary trading was Nelson Saiers, a derivatives trader, who joined New York-based hedge fund firm Alphabet Management, Bloomberg reported.

Anshu Jain, head of Deutsche Bank's Corporate and Investment Bank is cutting back on the bank's proprietary trading, as the U.S. Congress moves closer to passing a bill that will limit banks' ability to trade for themselves.

Eventually, Deutsche Bank's proprietary trading units will be moved over to trade on behalf of clients.

Snapman wrote:

I think I remember saying how prop trading opportunities were dying in banks LONG ago… it sees like the hedgy and P/E space is about to get more crowded. Few years back we all were already discussing how the banking models and financial landscape was gonna change from reform. I looks like we are seeing the beginning of it.

-snapman



------




Deutsche Bank Traders Leaving for Hedge Funds
Two Deutsche Bank proprietary traders are leaving for the hedge fund world as financial reform that would limit bank trading desks looms.

Pablo Calderini, who headed up the bank's proprietary equities trading is leaving for an un-named hedge fund firm, according to Bloomberg.

Calderini, whose background is in emerging markets and derivatives trading, helped Deutsche Bank build its emerging markets business during his 14-year tenure with the bank.

Also leaving the bank's proprietary trading was Nelson Saiers, a derivatives trader, who joined New York-based hedge fund firm Alphabet Management, Bloomberg reported.

Anshu Jain, head of Deutsche Bank's Corporate and Investment Bank is cutting back on the bank's proprietary trading, as the U.S. Congress moves closer to passing a bill that will limit banks' ability to trade for themselves.

Eventually, Deutsche Bank's proprietary trading units will be moved over to trade on behalf of clients.

Yep but my point is propr trading is already dead, and this for a decade in investment banks...
Of course you can still hear here and there from a prop trader
Even Goldman that was once a prop house (in the 90s) uses its prop trading desk as a glass window and it generates only 10% of its revenues (far more that its competitors)