Deutsche Bank has made a notable appointment to its equities team, with the German investment bank adding James Rubinstein to its team as the Managing Director, Americas Head of Electronic Equities this month.
Rubinstein has more than two decades worth of experience in algorithmic trading, quantitative research, market microstructure, transaction cost analysis, client consulting, and liquidity strategy, his LinkedIn profile states.
He joins Deutsche from UBS Investment Bank. Beginning his tenure with the firm in June 2006, Rubinstein worked at the firm for more than 12 years. Most recently he was the Americas Head of Algorithmic Trading and Analytics.
Rubinstein graduated from Colgate University with a Bachelor of Economics in 1998. He then went on to start his career as a manager of the trading research group at Instinet, where he worked for four years. Instinet is a financial services company that is owned by Nomura Group.
Changing the Face of AML with Self Service AnalyticsGo to article >>
In 2002, Rubinstein paused his working career to focus on his education. He attended Dartmouth College and achieved an MBA in 2004. Following this, he then went on to join FlexTrade Systems, a leader in broker-neutral, execution and order management equities and forex trading platforms, in the same year. At FlexTrade, Rubinstein was the Vice President, a position he held for two years.
Deutsche Continues to Shake up Its Equities Unit
The appointment of Rubinstein is the latest shakeup of the company’s equities team. Earlier this year in September, Finance Magnates reported that Deutsche had made a series of changes to its global equities division. This included Ashley Wilson and Brad Kurtzman being named as global co-heads of equities trading.
The move in September, and most likely the appointment of Rubinstein, is an attempt to reverse a slump that the firm has been experiencing in the past few years. Over the past 12 quarters, Deutsche Bank has experienced consecutive year-on-year drops in revenue for the division.
Last year, Peter Selman, an ex-partner of Goldman Sachs Group Inc came out of retirement to revive the firm’s division. However, it has been a slow process as low market volatility, management changes and lack of trust in the firm has hampered its progress. It appears that Rubinstein was recruited by Selman.