Deutsche Bank AG named Dixit Joshi global head of prime finance, replacing Murray Roos, who was hired by Citigroup Inc., according to a person with knowledge of the moves.
Barry Bausano, who had been co-head of prime finance with Roos, was appointed chairman of hedge funds, a new role, said the person, who asked not to be identified discussing personnel matters. Bausano will continue to report to Garth Ritchie, the Frankfurt-based bank’s global head of equities, as will Joshi.
Deutsche Bank is planning to expand its equities business, which trades stocks and derivatives for institutional investors, as part of a five-year plan announced this week. As head of prime finance, Joshi will be responsible for the group that services and finances the bank’s hedge-fund clients. The bank has said it aims to “optimize” that business.
The Wall Street Journal reported Joshi’s new role earlier Thursday. At Citigroup, Roos will be global head of sales for its equities and prime-finance units, the New York-based bank said Thursday in a statement.