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Deutsche Bank’s Calderini Leaves to Join Hedge Fund

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Deutsche Bank AG’s Pablo Calderini, the head of equity proprietary trading, is leaving to join a hedge fund as Germany’s biggest bank winds down the business for buying and selling stocks with its own money.

Calderini, 46, has been with Deutsche Bank for about 14 years and helped establish the company’s emerging-markets business, according to an internal memo confirmed by spokesman Michael Golden. No replacement will be named for New York-based Calderini because the remaining equity proprietary unit will be folded into the regular equity flow business.