Stephen Lazarus, managing director and head of the structured solutions group at Deutsche Bank, has left the firm. Tim Foxe, an official at Deutsche Bank in Los Angeles, will take over as group head. Lazarus, reached on his cell phone, confirmed his departure but declined further comment. Foxe confirmed the move but it could not be determined by press time if he would move to New York.
Lazarus led the structured products effort within Deutsche Bank's US Private Wealth Management division, which structures products for the firm's private banking arm and high net worth and ultra-high net worth clients. He had been brought over from the firm's fixed income capital markets division in the fall, one market official said.
The official described Lazarus as a "conductor of the symphony," explaining he coordinated structured product distribution between trading desks and clients, bringing new instruments to clients and offering ideas for new products to traders. The official said Lazarus dealt with trading desks across all asset classes, in line with Deutsche Bank's creation of a global cross-asset class sales team to market derivatives to retail and high net-worth clients earlier this year (DW, 2/28).
