Deutsche Bank's ex-top credit trader spent a year out of the market, joined Mizuho
Vikram Dadlani has had a good rest. After leaving Deutsche Bank in July last year, he's got a new job. Dadlani has just joined Mizuho in London.
Financial News reported today that Dadlani has resurfaced at the Japanese bank, where he will be head of credit trading for EMEA, reporting to Asif Goodall, Mizuho's head of global markets. Goodall seems excited by Adlani's arrival: Adlani's "extensive knowledge of the credit markets will be invaluable," Goodall proclaims.
Mizuho declined to comment on its new hire. Dadlani also didn't respond to a request to comment on what he's been up to in the past 18 months. He spent 16 years at Deutsche Bank, where he was promoted to managing director (MD) in 2020, plus head of European investment grade corporate credit trading. The FCA register says he officially left Deutsche Bank in December 2024 although we understand he left his desk in July.
Deutsche Bank didn't respond last year when we asked why Dadlani had departed. At that time, there were rumours Dadlani might want to join a hedge fund. He appears to have decided against that. Deutsche Bank's European credit trading business looks like a reunion of people from Credit Suisse, but it's not clear whether this is why Dadlani left.
In any case, as head of all EMEA credit trading at Mizuho, Dadlani now has a bigger job title. Mizuho, however, is not a major player in credit trading; Deutsche Bank is the EMEA market leader.
Dadlani has an interesting predecessor. Mizuho's past heads of EMEA credit trading include Claus Jorgensen, who joined in 2019 and disappeared in 2022. Jorgensen also spent a few years out of the market before joining Mizuho: he was fired from HSBC in 2015 and sued the bank for wrongful dismissal before settling out of court. Jorgensen then disappeared from Mizuho after a period of sickness and claims that he had been on the board of German property firm Adler Real Estate AG while pitching its bonds, without disclosing his position. Jorgensen now describes himself as retired.
Dadlani's eventual reappearance at Mizuho comes as investment grade credit traders have been bemoaning their lot. As the investment grade market goes electronic, credit trading jobs have been vanishing. This may explain Dadlani's new role. He reportedly said Mizuho has, "ambitious plans to expand its capabilities," so other credit traders on the market may want to get in touch.
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