Deutsche Bank Hires Ruskin From RBS for Currencies

Deutsche bank hires Ruskin to report to Hafeez
Deutsche Bank's global head of foreign exchange research Bilal Hafeez. Photographer: Rukhsana Hamid/Bloomberg

Deutsche Bank AG, the world’s biggest currency trader, hired Alan Ruskin from Royal Bank of Scotland Group Plc as global head of Group-of-10 foreign-exchange strategy in New York.

Ruskin will report to Bilal Hafeez, global head of foreign-exchange research, Deutsche Bank said today in an e-mailed statement. RBS, Britain’s biggest government-owned bank, said yesterday that Ruskin resigned as global head of foreign-exchange strategy on July 1. Ruskin worked from Stamford, Connecticut for RBS.

“He will be a major asset as we enhance our research offering to our U.S. and global client base,” Hafeez said in the statement.

Ruskin joined RBS in January 2006, when it was known as RBS Greenwich Capital Markets. Prior to that, he was head of research and managing director of in the Americas since 1998. Ruskin was also one of the three founders of research organization IDEAglobal, according to the press release from when he joined RBS.

In March 2009, Ruskin called U.S. government plans to purchase bonds “a historic moment -- the start of debasement of the world’s reserve currency. It feels to many participants that in the grand sweep of history we are witnessing the end of ‘Rome’ on the Potomac.”

David Simmonds, global head of research, will lead RBS’s currency research on an interim basis at the firm’s securities unit, the London-based company said an in e-mail obtained by Bloomberg News yesterday. Paul Robson in London and Greg Gibbs in Sydney will continue to provide strategy recommendation to clients, RBS said.