Deutsche Bank has lost two of its most senior electronic trading professionals in Europe. Both are understood to have gone to Exane.
Market insiders and headhunters say that Yashar Asl and Edgar Harty both left Deutsche in the past few weeks. The two men were co-heads of equities in EMEA for Autobahn, Deutsche's electronic trading system.
Asl is understood to be on three months' gardening leave before joining Exane in London. Harty is understood to be joining Exane in the U.S.
Deutsche cut its bonus pool by nearly 80% last year, but this doesn't appear to have been the catalyst for Asl and Harty's exit. Headhunters said the two men were disgruntled after Neal Nadoo, Deutsche's co-head of systematic trading in EMEA was given more responsibility. Nadoo was hired in from Goldman Sachs in 2013. Asl joined Deutsche from G-Trade, an electronic trading platform, in 2008. Harty joined from Bank of America in 2007.
Deutsche Bank declined to comment.
Asl and Harty aren't the only electronic trading professionals to join Exane this year. In April, the French bank also hired Shane Dillon, a former executive director in electronic trading from Morgan Stanley. MiFID II is expected to increase the importance of electronic trading systems when it's introduced in Europe in 2018.
Photo credit: Deutsche Bank | London Wall by Justin Pickard is licensed under CC BY 2.0.