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Deutsche Bank Said to Hire Delaville as London CDS Index Trader

Deutsche Bank AG hired Basile Delaville to trade credit-default swap indexes in London, according to three people familiar with the matter.

Delaville previously traded index options at Bank of America Corp., said the people, who asked not to be identified because they’re not authorized to talk about the appointment. He began working at the lender in 2008, before which he worked at Credit Agricole SA, according to his registration with the U.K.’s Financial Conduct Authority.

Charlie Olivier, a London-based spokesman for Deutsche Bank, declined to comment on the appointment.

Deutsche Bank pared its credit swaps business last year as it reviewed the operations’ profitability and after new regulations made it more expensive to buy and sell credit derivatives.

Germany’s largest lender said in November it would stop dealing in most credit swaps tied to individual companies. The Frankfurt-based bank said it’s focusing instead on corporate bonds and the more active market for benchmark derivative indexes, while continuing to trade swaps on emerging-market borrowers and distressed companies.

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