Deutsche expands Bouhara's role

Deutsche Bank's head of equity derivatives, Yassine Bouhara, is to take on the additional role of head of cash equities as the German bank moves to streamline its trading arms.

Bouhara will continue to be based in London. Deutsche's former global head of cash equities, Ralph Reynolds, is to move to New York as head of Deutsche's equity proprietary trading.

Bouhara and Reynolds both continue to serve on the bank's global markets executive committee, where they will be joined by Alan Cloete, head of global finance.

As part of the rejig, John Hitchens, Deutsche's head of global prime services, will now report to both Cloete and Bouhara.

"Combining cash and derivatives businesses has paid rich dividends in our credit, rates and foreign exchange franchises," said Anshu Jain, Deutsche's head of global markets. "I am confident that it will do so again in the equities business," he added.