Deutsche Bank Securities Inc. announced yesterday it had hired two former Bear, Stearns & Co. derivatives experts in its municipal structuring group.
The firm announced that Patrick Marsh, former senior managing director at Bear Stearns, will join the firm as a managing director and head of municipal structuring within the global markets division.
The firm also hired Josh Sherman as a vice president in municipal structuring. Both Marsh and Sherman, who are based in New York, are responsible for origination and structuring of derivatives and structured products for municipal clients, the statement said.
Marsh has over 15 years of experience in the muni market. He worked with municipal financial products at Bear Stearns. Sherman was a vice president at Bear Stearns responsible for marketing derivatives and structured products to municipalities.
Patrick is very well-known and respected in the muni industry. His derivatives product knowledge, strong client relationships and market know-how are enormous assets to this growing business, said Tim Dowling, head of North American structuring. He and Josh are both skilled originators and will prove to be an invaluable resource for our clients.
In June 2004, the firm also hired Carlos Rodriguez as a director and head of municipal trading responsible for trading municipal derivatives as well as taxable and tax-exempt municipal securities. Rodriguez was previously with BNP Paribas as head of municipal structured products.
