Deutsche Bank has hired Robert Grillo, a managing director who traded liquid mortgage-backed securities and derivatives at New York-based hedge fund CDC Investment Management, to man its cross-rate desk in New York. Grillo, who started at Deutsche Bank last week, reports jointly to Jon Kinol, managing director of North American over-the-counter derivatives in New York and Thomas Paul, managing director and head of government bond trading. "Rob brings us a different skill set coming from the buyside. He has a strong expertise in mortgages and the hedging of mortgages with OTC products" Kinol said.
The cross-rates desk was launched last month to package risks made up of swaps, mortgages, agencies and government bonds (DW, 8/27).
While at CDC Grillo reported to Charles Schoenig, managing director. Schoenig could not be reached for comment.
