The bank has sought to implement an integrated financing and risk management model for its fixed-income capital markets business.
Patrick O’Brien, European head of debt capital markets, is leaving the firm after 15 years. Philippe Jordan, who ran derivatives, and Andreas Schlotter, head of corporate DCM, are both leaving the DCM business but not necessarily the firm.
Allegra Berman and Mahnaz Safa continue their combined rapid rise – they are now joint heads of European corporate coverage and frequent borrowers. The duo were only appointed co-heads of UK corporate and public sector DCM a little more than six months ago. Their remit was expanded to include Scandinavia only weeks later. Guy Reid, Berman’s replacement as head of frequent issuers, reports to her. Meanwhile, European public sector DCM is now headed by Gaetano Bassolino, who was head of Italian DCM – and he will continue to coordinate the bank’s efforts in the country.