Deutsche Hires Ex-Lehman Executive for its ICG Unit

Deutsche Bank Securities  hired Peter Hornick for its i nstitutional client group (ICG) within the global markets division as a managing director and head of credit sales for North America .

Hornick is based in New York and oversees distressed debt, convertible bond, high grade, high yield and structured product sales groups. Hornick joins from Lehman Brothers and reports to Lou Jaffe , Managing Director and Head of ICG Debt Sales for the Americas.

Hornick joins the bank after six years at Lehman Brothers where he was most recently global head of the CDO group, overseeing trading, sales and research. Before that, he was global head of levered credit sales. Before joining Lehman, Hornick was a derivatives trader at Merrill Lynch in New York and London .

“Peter has unique experience in derivatives, structured products and fundamental credit, which will provide our clients with a valuable perspective during these challenging times,” Jaffe said. “He is an enormous asset to our world-class salesforce, and brings a long history with some of the largest and most successful institutional investors in the U.S.”