Nancy Del Genio, managing director of loan sales at Deutsche Bank, left the bank last week to take time off and possibly pursue other business opportunities. As first reported last week on LMW's Web site, a replacement has not been named and a source said a decision on whether her job will be split up or filled may take a few weeks. Del Genio could not be reached for comment.
Del Genio, who started her career at what was Bankers Trust in 1984, oversaw a sales team that was part of a major comeback in the secondary loan market last year. Deutsche Bank's loan par loan trading group jumped from sixth in 2004 to second place this year in Loan Market Week's Best Trading Desk Survey. The surge was sparked by a restructuring that moved Anthony LoGrippo, former head of sales at Deutsche, and Steve Snizek, who had been leading the bank's trading effort in London, in as co-heads of trading.
Del Genio's move comes as other seats are being shuffled at Deutsche Bank's sales desk.Jono Peters and Clark Peterson have been shifted to cover commercial banks, filling the spot previously held by Kevin Dooley, who left a few weeks ago to become a trader at TD Securities. Peters was covering institutional accounts and Peterson was in capital markets. Additionally, Alex Bici, a research analyst, will move to the sales desk to cover hedge funds, which are not currently covered on the par side. He'll be replaced by Francis Blair, who was in the workout group. Matt Vincequerra is moving to the London desk to continue his job as a par salesman.