LONDON, April 1 (IFR) - Deutsche Bank and Bank of America Merrill Lynch have reshuffled their sovereign, supranational and agency (SSA) leadership in debt capital markets and trading, several market sources said.
Bank of America Merrill Lynch has hired Adrien de Naurois and Hiren Gudka from Deutsche Bank to run its SSA syndicate desk and trading respectively. De Naurois joins as a director and will report to Jeff Tannenbaum, head of EMEA syndicate and DCM origination, while Gudka will be managing director.
De Naurois and Achim Linsenmaier were made co-heads of European SSA syndicate at Deutsche in November 2012, after Ralph Berlowitz, head of SSA syndicate at the German bank, retired.
Chris Lees, who was hired by the US bank in May 2012 from Citigroup to run SSA and financial institutions syndicate, will now focus on financial institutions with Chris Cote.
As well as De Naurois' and Gudka's departures, there are changes on the origination side at Deutsche Bank. Bill Northfield, who has been at the bank for over 20 years, is taking a sabbatical.
Nigel Cree, former head of syndicate Americas, returns to Deutsche Bank to fill Northfield's place. He took a leave of absence for personal reasons in April 2013. His stated plan at the time was to relocate to London and join the bank again in a new role. (Reporting by Helene Durand, Editing by Alex Chambers, Julian Baker)