Deutsche Bank’s global head of equity and derivatives trading, Noreddine Sebti, is packing his bags and ditching the Big Apple for Hong Kong, in a move that the bank says reflects Deutsche’s increasing focus on the Asia-Pacific region, which it expects to overtake Europe in terms of equity trading this year.
Sebti’s relocation to Asia marks the first time a big investment bank has moved so senior a trading figure to the region.
According to Deutsche, revenues from its equities business in Asia rose by 80% in 2007, compared with an estimated 35% rise for the equities industry across the region.
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