Deutsche adds three to FX sales team

Deutsche Bank has bolstered its foreign exchange sales team, with three new hires joining since December as the bank makes a fresh push on the asset management, insurance and pension client segments.

According to an internal Deutsche Bank note seen by FX Markets, Caryn Freiberger will join this month to become head of North American FX institutional sales, having spent the previous 15 years at Citi, most recently as head of FX real money sales. Freiberger will report to Hans Ephraimson, global head of FX sales.

In London, the German bank has hired Denise Molloy as a director in the UK asset manager FX sales team. She joins from Barclays, where she worked in a similar role. Molloy will report to Darren Pughsley, who joined Deutsche Bank last year as head of UK asset manager FX sales.

In Paris, Benjamin Yvon joined Deutsche’s French FX sales team in December from Morgan Stanley. He reports to Verena Kruse, head of FX sales for Europe, the Middle East and Africa, and will focus primarily on asset managers.

The changes to the sales team follow a number of moves on the trading side last year.

Deutsche Bank appointed Lee Merchant as global head of FX spot trading, relocating him from Sydney to London. He was previously head of FX for Asia-Pacific and was replaced by two co-heads.

One of those is Sydney-based Darren Boulos, who returned to the bank after leaving in 2015 to head FX sales and trading for the region at BNY Mellon. The other is Singapore-based Ruchir Sharma, who joined from Credit Suisse, where he was head of Asia-Pacific FX trading.

In London, Ben Carter became global head of FX spot quantitative trading.

Update, January 25: This article was updated with extra information about reporting lines and coverage areas.