Deutsche Bank credit trader decides it's time to go crypto
Although Deutsche Bank's fixed income traders didn't do badly when the bank announced its results earlier this week, its credit traders didn't do as well as their macro brethren. Rates and FX revenues were "signficantly higher" said DB; credit trading revenues were "significantly lower."
It's not clear whether this significant drop contributed to Matthew Mezger's decision that now was the appropriate time to leave his Deutsche Bank credit trading job for crypto, but that's what Mezger has done. He's no longer on Deutsche Bank's New York investment grade desk. He's a crypto trader at Digital Currency Group in Stamford, Connecticut.
Mezger said he's excited about, "the potential of digital currencies" and pleased "to be joining a market leader like DCG whose mission is to develop a better financial system."
We suspect, however, that the move into trading crypto was simply the culmination of a long career in trading and technology and the intersection of the two. Mezger started out as a software engineer in electronic trading before become Deutsche Bank's head of North American rates and credit e-trading technology, before becoming a credit trader. As a trader, he was working on portfolio and algo trading, so morphing into crypto might seem the next stop in his evolutionary process.
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