Deutsche creates Fic division under Amrolia and Felson

Zar Amrolia and Wayne Felson have been appointed co-heads of a new fixed income and currencies division at Deutsche Bank

Deutsche Bank is merging its global finance and foreign exchange with its rates and credit trading businesses into a new fixed income and currencies (Fic) division, the bank announced to employees last week.

The Fic division will be co-headed by Zar Amrolia, global head of foreign exchange and markets electronic trading, and Wayne Felson, global head of rates and flow credit trading. Both will now become co-heads of Fic, in addition to their existing responsibilities. They are based in London.

The creation of the Fic division is the latest in a string of senior management changes within Deutsche's investment banking business. Amrolia, who had been global head of foreign exchange since 2006, was promoted in September to manage all electronic platforms across fixed income, with Kevin Rodgers stepping up to become global head of foreign exchange.

Felson has been at Deutsche Bank since 1995, having previously worked in derivatives research at Salomon Brothers. He has held a number of senior roles at Deutsche, including head of European rates, and head of complex risk for global rates and equities.

Amrolia originally joined Deutsche Bank in 1995 and spent five years in various roles in options trading and structuring before becoming global head of sales. He left to join Goldman Sachs in 2000, where he became partner, managing director and co-head of forex. He returned to Deutsche in 2004, initially as global head of foreign exchange sales.