(Bloomberg) -- Deutsche Bank AG has rehired its head of currency derivatives trading for North America as it seeks to revamp the global business.
Barry McCarthy has returned to his old role after exiting Germany’s biggest bank in August 2023, according to people familiar with the matter and McCarthy’s LinkedIn profile. Deutsche has also promoted Thomas Berger to global head of FX derivatives, replacing Logan Campbell, who has departed, according to some of the people, who asked not to be named discussing personnel.
Revenue in the bank’s fixed-income and currencies business dropped 3% to €2.1 billion ($2.3 billion) in the second quarter this year. In foreign exchange, lower volatility offset strength in the spot trading business following investments in technology, the bank said in July.
Shuo Wu, former head of electronic FX-forwards, has also left the firm in the latest personnel changes, the people said.
A spokesperson for Deutsche Bank declined to comment, while the traders declined to comment or didn’t respond to requests for comment. The bank’s currency business is overseen by global co-heads Chris Leonard and Sameen Farooqui. Deutsche hired Oliver Jerome as head of European FX earlier this year.
©2024 Bloomberg L.P.