Deutsche Bank Latin America Trading Head Binaghi Departs

Christian Binaghi, Deutsche Bank AG (DBK)’s head of Latin America trading, has left the firm.

Binaghi was a New York-based managing director who oversaw all Latin America trading, including currency, debt and equity, said Renee Calabro, a spokeswoman for the Frankfurt-based lender. She declined to say why he left, other than that his departure was “unrelated to regulatory investigations into the foreign-exchange market.”

Deutsche Bank is among currency-trading firms including Citigroup Inc. and Barclays Plc that have fired, suspended or put on leave traders amid a probe into the alleged manipulation of currencies. Regulators are examining whether bank traders communicated with dealers at other firms and timed trades to influence benchmarks and maximize profits in the $5.3 trillion-a-day currency markets.

No firms or traders have been accused of wrongdoing by government authorities. Binaghi’s departure was reported earlier today by Reuters.

To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net Steven Crabill, Dan Reichl

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