11/09/2012

Deutsche’s Trading Chief Gets New Post

Pius Sprenger, who replaced Greg Lippmann as global head of structured-product trading at Deutsche Bank, has a new position at the bank.

In the past few weeks, Sprenger transferred to a post in which he oversees the liquidation of a large collection of credit products that has been weighing on Deutsche’s books since the financial crisis. The portfolio contains several billion dollars of asset- and mortgage-backed securities, collateralized debt obligations and fixed-income derivatives.

Though his new duties are more narrowly focused than before, Sprenger is highly regarded by Deutsche’s brass — and the assignment is considered a top priority, sources said.

Taking Sprenger’s place as structured-product trading chief is Ben Solomon, who arrived last year from Goldman Sachs to oversee Deutsche’s commercial MBS trading operations in the U.S. He is assisted by John Hanisch, whose focus is bonds backed by U.S. consumer receivables. He joined the bank in 2007, originally as a CDO trader.

Sprenger joined Deutsche in 2004 as head of asset-backed bond trading in Europe, replacing Greg Branch. He was promoted to global head in 2010 when Lippmann left to start a hedge fund shop called LibreMax Capital.

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