Deutsche Bank has hired Antoine Cornut from Credit Suisse to run European flow credit trading. Cornut was seen as the right-hand man of Eraj Shirvani, head of European credit trading and sales at Credit Suisse.
Cornut is now head of a team reporting to Derek Smith, global head of trading at Deutsche. He will look after high-yield and investment-grade flow in Europe.
Deutsche has also hired Nicholas Pappas to look after European investment-grade trading. Pappas is a well-known trader at Goldman Sachs in New York and will report to Cornut.