Pine River Said to Hire Ex-Deutsche Bank Credit Trader Wilkes

Pine River Capital Management, the $15.5 billion hedge fund firm, hired former Deutsche Bank AG credit trader Joshua Wilkes to expand its municipal debt business, according to a person with knowledge of the matter.

Wilkes was co-head of investment-grade credit and head of municipal trading before he left the German bank in January. He started as a money manager in a new position at Pine River’s New York office on Aug. 17, said the person, who asked not to be named because the information is private.

Pine River is expanding its footprint as banks are scaling back their fixed-income and trading teams amid tougher regulations. The firm recently hired Royal Bank of Canada trader Olivier D’Meza, who led a team in the global arbitrage and trading group.

Patrick Clifford, a spokesman for Pine River with Abernathy MacGregor Group Inc., declined to comment on the hire. Oksana Poltavets, a spokeswoman for Deutsche Bank, declined to comment on the move.

Wilkes and an analyst who will join him in September will oversee a large long-only portfolio of municipal debt that will be managed for a single client, the person said. Wilkes will also contribute to the Minnetonka, Minnesota-based firm’s broader hedge fund strategies.