Deutsche Bank has hired Olivier Vigneron, correlation trader at Goldman Sachs in London, in a similar role. He will report to Mark Stainton, head of exotic credit-derivatives trading in London, according to Antonio Di Flumeri, global co-head of investment-grade credit derivatives trading in London.
Vigneron's position will be an expansion to the department, which currently has three traders, according to Di Flumeri. The desk trades credit correlation products, such as first-to-default baskets and portfolio trades. Di Flumeri said the firm made the hire because of increasing demand for these products.
At Goldman he reported to John Weiss, executive director and head of the global correlation book in London, until Weiss left the firm to join Cheyne Capital Management (DW, 3/24). Officials at Goldman Sachs did not return calls.
