Richard Kennaugh, former co-head of credit derivatives trading at Chase Manhattan Bank in New York, has resurfaced at Deutsche Bank in London. Kennaugh takes the new position of managing director, head of trading for Europe in the firm's loan exposure management group, according to Harriet Benson, spokeswoman in New York. He reports to Stuart Lewis, regional head of Europe, she said. Neither Kennaugh nor Lewis responded to messages.
Deutsche Bank set up a loan exposure group earlier this year, said an official familiar with the hire. Kennaugh's principal responsibilities will be to manage counterparty risk in the loan portfolio with credit derivatives, he added.
