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.
The previous head of equities for Asia, Colin Fan, is moving to London to become global head of credit trading along with Boaz Weinstein.