Deutsche Bank is changing its strategy on interest rate trading

GettyImages 3445303Scott Barbour/Getty ImagesA ‘No U-Turn’ road sign is seen near the British Houses of Parliament on April 19, 2004 in London

Deutsche Bank is boosting European interest rates trading team with three new hires in London, despite signalling earlier this year that it would scale back.

The bank hired Kal El-Wahab and Kilian Frensch from Credit Suisse and Brevan Howard as well as Ryan Sbarra from Bluecrest, who’ll head up the Sterling desk.

Sam Wisnia, head of rates in Europe, said: “We are committed to maintaining our world-class client franchise in rates and continue to invest in this space.”

Which is a bit of a change from April, when Deutsche Bank said it would “optimise” rather than grow its rates trading team in a strategy presentation, amid reports it would shrink the division.

It may mark one of several shifts that new co-CEO John Cryan is preparing to make after taking over the reigns from Anshu Jain, who was ousted in June.

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