Ashwin Kumar, head of interest rate trading at Commerzbank Securities in New York, is joining Banc of America Securities in London, reportedly in a similar role. The move is the latest in a stampede of staffers exiting Commerzbank, many of which have reportedly been initiated by low bonus payouts (DW, 5/5). Ali Satrap, global head of interest rate trading at Commerzbank in London, to whom Kumar reported, said that Kumar's move was not motivated by dissatisfaction at Commerzbank, but instead by the appeal of the new opportunity at BofA. Liz Wood, spokeswoman at BofA, was not able to comment by press time.
Commerzbank Fixed Income Heavyweight Jumps To BofA...
