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Derivatives

U.S. Deutsche Bank FI Chief Quits

Susan Estes, managing director and head of fixed income for North America at Deutsche Bank in New York, has resigned. Estes' decision was predicated on a "desire for a significant lifestyle upgrade," according to an internal memo sent to global markets staffers on July 25 by Charles von Arentschildt, head of global markets America, and Michele Faissola, global head of rates. Estes, reached at work, referred calls to Harriet Benson, spokeswoman, who declined comment. Faissola was traveling and could not be reached. Calls to von Arentschildt were not immediately returned.

Estes took on the head role in September, replacing Thomas Paul, who was appointed to the newly created seat of chairman of the global markets interest rate risk committee.

Prior to Deutsche Bank, Estes worked at Morgan Stanley for 16 years, rising to head the firm's global treasury and agency trading effort. She will be replaced next quarter, according to the memo, which doesn't name a successor.

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