People moves: Reuter quits to set up prop shop?
Dierk Reuter has quit his job as global head of FX algorithmic trading at Deutsche Bank, which he joined in November 2007 from Goldman Sachs. The buzz in the market is that Reuter is the latest in a growing trend to set up a niche boutique. If true, it is another reflection of the difficulty banks are having in retaining quality staff. Talk is that Reuter has been joined in his new venture by Matt Wilhelm from Goldman Sachs and at least two algo experts from RBS. Goldman, as ever, has refused to comment and the brief media glasnost shown by RBS appears to have come to a rapid end.