Deutsche Bank has officially announced the appointment of Richard D'Albert as the sole global head of the securitized products group. This follows former securitized group co-head Michael Raynes' departure to Citigroup last month. Raynes is now Citigroup's head of global structured credit business.
Matt Press was also appointed as global head of structured capital markets. He was formerly the European head of the business. The bank said that Press' appointment would allow Ivon Dunbar to focus on his role as head of global markets in Europe.
Deutsche also promoted Mark Ritter, formerly the global head of commodities, to chief operating officer for global credit trading. Ritter is replacing Mark Beeston who left Deutsche last July to join electronic platform for credit derivatives T-Zero.
Both Ritter and D'Albert will still be based in New York and Press will be based in London. All of them will report to Rajeev Misra, head of global trading.