Deutsche Bank, BNP Paribas and RBC have all lost senior credit traders
Summer holidays are underway, and senior credit traders at some banks are taking the opportunity to hit the beach for more than the mandatory two weeks.
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Multiple sources say that both Deutsche Bank, BNP Paribas and RBC have all lost senior credit traders recently. Deutsche Bank and RBC declined to comment, and BNP didn't respond; nor did the individuals concerned. The reasons for the disappearances are different, but not entirely coincidental.
At Deutsche Bank, we understand that Vikram Dadlani, the long-serving head of European corporates and financials trading, has gone. Dadlani's whereabouts are unknown. There are suggestions he'd maybe like to join a hedge fund.
At BNP Paribas, Nabil Benjelloun, also the head of investment grade corporate bond trading, has also vanished. We understand that he's returning home to his family in Morocco.
And Nikesh Parmar, the head of corporate credit trading at RBC also happened to resign yesterday.
Deutsche Bank isn't expected to hire anyone to replace Dadlani given that it stocked up on innumerable credit traders from Credit Suisse. It's thought that the proliferation of Credit Suisse people at the German bank is the reason for Dadlani's exit. He'd worked for Deutsche for 15 years after joining as an associate, and it's conceivable that he may be followed out the door by people close to him.
BNP is, however, thought to be hiring to replace Benjelloun. - Parmar is thought to be taking his seat, hence his resignation from RBC. However, he's likely to have a few sunny months of gardening leave first.
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