Deutsche adds in online flow

Michelsen joins Deutsche from Saxo Bank in Copenhagen, where he was vice-chief executive. He joined Saxo in 2000, and before that he was chief financial officer and managing director of Damko, a subsidiary of the East-European Trading House.

Michelsen will report to Rhomaios Ram, recently appointed as global head of e-commerce sales within the global markets division.

Jim Turley, global head of the institutional client group at Deutsche Bank, said: "This appointment, along with recent initiatives

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