Deutsche Bank Loses its Global Head of Fixed Income
- Ioannis “John” Pipilis was at the German lender for almost two decades.
Deutsche Bank has lost its global head of fixed income, Ioannis “John” Pipilis, slightly more than a week after the German bank revealed that it was restructuring its bond-trading business.
The move was reported by Financial News London. According to a person familiar with the matter, Pipilis was expected to leave and has come to an agreement with the German lender.
The restructuring at Deutsche Bank saw control of the firm’s bond-trading business given back to Ram Nayak, who in May 2018 was promoted to co-president of corporate and investment banking.
As Finance Magnates reported, earlier this month the company announced that it was going to execute another brisk restructuring of its operations, this time cutting close to 18,000 jobs.
Specifically, Deutsche Bank said in a statement that it plans to reduce the amount of capital used by its Fixed-Income Sales & Trading business, in particular, Rates. As a result, the bulk of the job cuts are from the equities and fixed income units.
The restructuring comes on the back of years of struggling for the lender to retain profitability. In order to offset this, the bank has continued to reduce the activity at its investment bank. Deutsche Bank says the cuts will save it $8.3 billion a year.
The company’s foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) prime brokerage business, however, is instead set for a boost.
Pipilis joined Deutsche Bank in 2000
Pipilis has been a veteran with the bank, having spent almost two decades there. Back in 2000, Pipilis joined Deutsche Bank and was promoted to the position of global head of credit structuring in 2007.
In 2015, he was appointed at the global co-head of credit, alongside Chetankumar Shah. According to a previous report from eFinancialCareers, Pipilis was known to be the more powerful of the two.
Deutsche Bank has lost its global head of fixed income, Ioannis “John” Pipilis, slightly more than a week after the German bank revealed that it was restructuring its bond-trading business.
The move was reported by Financial News London. According to a person familiar with the matter, Pipilis was expected to leave and has come to an agreement with the German lender.
The restructuring at Deutsche Bank saw control of the firm’s bond-trading business given back to Ram Nayak, who in May 2018 was promoted to co-president of corporate and investment banking.
As Finance Magnates reported, earlier this month the company announced that it was going to execute another brisk restructuring of its operations, this time cutting close to 18,000 jobs.
Specifically, Deutsche Bank said in a statement that it plans to reduce the amount of capital used by its Fixed-Income Sales & Trading business, in particular, Rates. As a result, the bulk of the job cuts are from the equities and fixed income units.
The restructuring comes on the back of years of struggling for the lender to retain profitability. In order to offset this, the bank has continued to reduce the activity at its investment bank. Deutsche Bank says the cuts will save it $8.3 billion a year.
The company’s foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) prime brokerage business, however, is instead set for a boost.
Pipilis joined Deutsche Bank in 2000
Pipilis has been a veteran with the bank, having spent almost two decades there. Back in 2000, Pipilis joined Deutsche Bank and was promoted to the position of global head of credit structuring in 2007.
In 2015, he was appointed at the global co-head of credit, alongside Chetankumar Shah. According to a previous report from eFinancialCareers, Pipilis was known to be the more powerful of the two.