James Malcolm, a foreign-exchange strategist at Deutsche Bank AG, has joined Caxton Associates in London.
Malcolm confirmed Monday he is working at the hedge-fund firm, though declined to provide further details when contacted by e-mail.
The hire is the latest Deutsche Bank employee to join the firm co-founded by billionaire Bruce Kovner. Junaid Mohammad, who traded using Deutsche Bank’s algorithm for its electronic currency platform, and Trevor Dinmore, a former senior foreign-exchange trader, have also been recruited.
The move marks a trend of bankers joining asset managers as investment banks shrink amid new regulation requiring them to hold more capital and liquid assets. In January, former head of emerging markets foreign-exchange and local markets strategy at Barclays Plc, Koon Chow, left to join Swiss asset manager Union Bancaire Privee.
An official for Caxton wasn’t immediately available for comment. A Deutsche Bank spokesman declined to comment.