Deutsche Securities appointed David Shrenzel as head of global banking in Japan effective from Feb. 1, 2008. Shrenzel assumes the post from David Hatt, President & CEO of Deutsche Securities, who has held the post on an interim basis. Shrenzel remains a co-head of the global capital markets division at DSI with Yuji Nomoto, a position Shrenzel has held since April 2007, but is succeeded by Aaron MacDougall as head of global credit trading at Deutsche Securities, a post Shrenzel has held since September 2002. Shrenzel originally joined Deutsche Bank Group in March 2000 as head of the global ABS credit products group in New York. Before that, he spent seven years with the asset securitization business at Credit Suisse. MacDougall joined Deutsche Bank Group in June 2000 as a senior trader in the global credit trading business and, prior to this appointment, was the head trader across Deutsche Securities' flow, structured and exotic corporate credit trading and convertible bond trading businesses. Before he joined Deutsche, MacDougall worked in fixed income derivatives, credit trading and structuring at Bankers Trust and at Morgan Stanley.

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