Ryan Zanin, managing director and global head of credit risk for leveraged finance at Deutsche Bank, left on Wednesday and is headed to Wachovia Securities to become the chief risk officer for Wachovia's corporate and investment bank. He will be replacing David Gaines, who has retired. Zanin is currently on gardening leave and is expected to start in late October. A Wachovia spokeswoman confirmed the hire. Zanin could not immediately be reached.
He will be reporting to Don Truslow, chief risk officer for Wachovia Corp. and will work closely with Steve Cummings, co-head corporate and investment banking. The position is located in both New York and Charlotte, N.C. It is unclear who will replace Zanin at Deutsche Bank.
Coincidentally, Zanin resigned the same day William Archer, formerly chief underwriting officer for North America at Goldman Sachs, resigned to join Barclays Capital (see Credit Investment News Web site). Archer had previously worked at Deutsche Bank, where Zanin worked under him.
Before retiring, Gaines had worked at Wachovia for 21 years and took over the role as chief risk officer in 2001.
