James Deighton, co-head of investment-grade cash and synthetic credit trading at Dresdner Kleinwort in London, has been named head of the group following the departure of co-head Paul Grimsey. Henry Nevstad, head of credit flow products at Dresdner in London, said Grimsey will not be replaced. Dresdner has lost a raft of credit derivatives traders over the last year, including Femi Adewaley, a senior correlation trader, two weeks ago.
Grimsey is set to join RBC Capital Markets in January as director and head of Euro cash trading. He will report to John Greenslade, head of liquid products trading, in the new role. Greenslade said Grimsey is an addition to the G7 credit trading business, which is expanding.
