Deutsche Bank high-yield trading chief Nessel leaves the bank

REUTERS/Kai Pfaffenbach

• James Nessel, Deutsche Bank’s co-head of high yield
  trading, is leaving the German lender. 
• Nessel joined Deutsche two years ago from
  Citigroup. 
• It’s the latest in a series of trader departures from
  Deutsche Bank. 

James Nessel, hired as Deutsche Bank’s co-head of high-yield
trading two years ago, is leaving the bank, according to people
with knowledge of the matter. 

Nessel resigned from the bank on Tuesday, the people said.

A Deutsche Bank spokesman declined to comment and Nessel could
not be immediately reached for comment. 

Nessel, who joined Deutsche from Citigroup in 2016, marks the
latest trader to leave the German lender, as CEO
Christian Sewing looks to reduce the firm’s reliance on
fixed-income trading. In the second quarter, the bank reported a
17% decline in bond trading,
compared to gains from US banks.