Deutsche Bank Said to Name Weir Head of U.S. Par Loan TradingBy
Executive to replace Eilert, who had joined Credit Suisse
CEO Cryan is restructuring the firm’s Wall Street operations
Deutsche Bank AG named Mike Weir to run par loan trading in the U.S., replacing an executive who joined Credit Suisse Group AG this year, according to a person familiar with the matter.
Weir, an employee at the German bank since 2014, succeeds Mike Eilert, the person said, asking not to be named because the appointment hasn’t been announced. Eilert previously took a similar post at the Swiss rival.
Deutsche Bank has been contending with staff departures after scrapping bonuses for top executives and slashing variable pay for other senior employees. In March, Chief Executive Officer John Cryan announced a broad restructuring of the firm’s Wall Street operations, reuniting investment banking and trading units.
Reuters previously reported the staffing change. Deutsche Bank declined to comment. Weir didn’t immediately respond to a request for comment.