A French ED cut by Morgan Stanley in London is safe at Deutsche Bank in New York

4 hours ago

2 minute read

Mark Vaillant has got a new job. Good for him. He was last working for Morgan Stanley in London for nearly five years after joining from Goldman Sachs, but then Morgan Stanley reportedly cut him along with four other people on the FX real money sales desk in March.

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Now Vaillant is back. He is not at Morgan Stanley. He is not in London. He is at Deutsche Bank in New York.

Vaillant didn't respond to a request to comment on what he is doing at Deutsche Bank, but he has written on LinkedIn that he is head of EM macro sales into US real money and hedge fund clients there.

This appears to be a superior job to his last one as an executive director (ED) working on 'emerging market FX and rates sales for real money and hedge fund clients' at Morgan Stanley.

Good things can clearly come of losing your job. Vaillant isn't even American. He is French. Deutsche Bank is building its US macro team and isn't set on hiring Americans. The head of US rates trading there is Pedro Goldbaum, who is Brazilian and was at Citi in London before he arrived in 2024.

Also let go from Morgan Stanley with Vaillant were Nayab Khan, Tyler Hambleton and Georgina Hingley. Khan is now at RBC and Hingley is at Natixis. We don't know about Hambleton, Maybe he should approach Deutsche Bank in New York too?

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