Citi and Deutsche Bank hired new rates traders in Paris
JPMorgan may have decided that it doesn't want so many rates traders in Paris, but there are still plenty of these traders in the French capital. Citi and Deutsche Bank have each hired one.
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Neither bank is commenting and nor are the traders themselves, but we understand that both Victor Caen, a EUR inflation trader at BNP Paribas and Richard Bert, a EUR inflation trader at Morgan Stanley have got new jobs.
Caen is understood to be joining Citi. Bert is understood to be joining Deutsche Bank.
The moves come as inflation is a new and rising concern in the wake of war in the Middle East. Caen and Bert are part a rising generation of inflation traders, having begun their careers in 2012 and 2017 respectively.
Caen has had more time to rise than Bert. He looks like a replacement for Douglas Cypel, who disappeared to Brevan Howard in February.
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