Deutsche Bank Securities is the latest investment bank to reorganize its fixed-income operations to better capitalize on synergies within securitized products, integrating the entire CDO effort and expanding the mortgage origination and trading efforts under a single, albeit large, global umbrella. This move expands the role of Global Securitized Products chief, Managing Director Phil Weingord, and allows for the cross-marketing of products within term and conduit ABS, MBS and CDO operations within the bank.
Under the new structure, all sectors of the CDO market, including high-yield bonds, leveraged loans, investment-grade cash and synthetic credits, and structured products will be run by Managing Director Brian Zeitlin. Zeitlin will report jointly to Weingord and fellow Managing Director Rajeev Misra, who continues running Integrated Credit Trading. Deutsche is also expanding its CDO secondary trading operations, with Greg Lippmann assuming the role of head of global CDO trading, reporting to Fred Brettschneider, global head of Securitized Products trading.