Deutsche shifts to offense in U.S.

|About: Deutsche Bank AG (DB)|By:, SA News Editor

Turning its attention from cleaning up legacy issues to growth, Deutsche Bank (DB +0.4%) is adding senior staff and billions in capital to its U.S. unit, with the latest move being the elevation of Rich Herman to New York-based co-head of fixed income trading. Herman previously ran the global debt sales team out of London, but will relocate to the Apple to replace Wayne Felson.

Deutsche has typically had #1 market share in U.S. bond trading, but fell all the way to 4th spot last year behind JPMorgan, Credit Suisse, and Citigroup, according to research group Greenwich Associates.

“We see fixed income as a core franchise at Deutsche Bank and remain committed to it,” said Deutsche co-CEO Anshu Jain last month, vowing to step up U.S. investment.