PIPS

PIPS

A spokesperson confirms that Deutsche Bank's Emerging Markets Proprietary Trading (EMPT) group was disbanded last week. About 55 staff are expected to transfer to other divisions at Deutsche Bank in London. Deutsche's EMPT division was headed by Rick Haller and covered currencies, debt, equity and trade finance. Nigel Whittaker headed EMPT's five-strong currency trading team. The spokesperson says the move is aimed at streamlining Deutsche's trading group ahead of the merger with Bankers Trust

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