Life as a senior fixed income trader is precarious. One moment you’re spearheading a business which is taking on the world, the next you’re quoting film scripts and packing your spare ties into an old cardboard box.
Such has been the experience of 44 year-old Richard Herman, global head of fixed income currencies and commodities at Deutsche Bank.
After just 15 months as global head of Deutsche’s FICC business (and just four months as the businesses’ sold head), Herman is leaving. He says the departure is voluntary, that he’s ‘going to walk the earth’ in the style of Samuel Jackson in the film Pulp Fiction. The implication is that he, ‘will be back’, although he doesn’t actually say so.
Walking the earth is all well and good. Except that only last summer, Herman was enthusiastic about Deutsche’s plans to expand its FICC business in the US which he reportedly said was the ‘perfect place’ for the bank to grow. One year on, and this is no longer the case. If you work in fixed income, you can never be too certain about the future.
Separately, Financial News reports that one ‘Jean Philippe Jabre’ has just joined London-based multi-strategy hedge fund CQS. Sounds familiar? That’s because Jean Philippe is the son of storied hedge fund manager Philippe Jabre. It clearly helps to have a renowned hedge fund manager for your father – particularly as Jean Philippe was studying at Princeton until recently, suggesting this might even be his first job.
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