Deutsche forex quant Jacobs follows McGhee to Citi

Deutsche Bank’s former deputy head of foreign exchange products development, Andrew Jacobs, is set to join his old boss, William McGhee, at Citigroup.

Steven Reiter, Citigroup's head of foreign exchange options, confirmed the US bank had made the offer to Jacobs.

RiskNews reported that top quant McGhee, who is currently on holiday, had quit Deutsche for its US rival on August 1.

McGhee and Jacobs’ defection from the German bank follows the departures of Andrew Simon, global head of foreign exchange options strategy, who is going to Lehman Brothers, and Matt Desselberger, head of corporate structured products, who is departing for HSBC, in the past few months.