- Deutsche Bank has hired a new credit-trading exec in the US.
- Sonny Kathpalia, who left Barclays in 2018, is joining the company running credit-swaps index trading.
- He’ll help fill a void left when rising-star Tian Zeng was dismissed earlier this year.
- Kathpalia joins the top-ranked credit-trading team on Wall Street.
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Deutsche Bank has hired a new credit-trading exec, filling a hole after the firm dismissed a rising star earlier this year.
Sonny Kathpalia, most recently a senior index trader at Barclays, is joining the German bank as its head of credit-swaps index trading in the US, according to people familiar with the matter.
Kathpalia, 36, spent most of his career at Lehman Brothers and Barclays before leaving in 2018, according to FINRA records.
A Deutsche Bank spokeswoman declined to comment.
Kathpalia will report into credit-trading head Paul Huchro and help fill a void left when Tian Zeng, a senior credit-index trader, left the firm in February.
Zeng, a top trader who was brought over from Citadel Securities as part of a build-out of the US credit-trading business, was discharged after Deutsche Bank concluded he’d violated firm policies by disclosing client information to a third party, according to FINRA records.
While Deutsche Bank has struggled in recent years and seen its stock tumble, credit trading under Huchro has been a bright spot. The German lender was tied with JPMorgan Chase as the top-ranked credit-trading operation globally in 2018, according to industry data consultant Coalition.
The firm’s fixed income, currencies, and commodities revenues in aggregate fell 15% to $6.3 billion last year.