UPDATE 1-Deutsche's head of LatAm trading leaves firm -sources

Tue Mar 11, 2014 3:43pm EDT

By Gertrude Chavez-Dreyfuss

NEW YORK, March 11 (Reuters) - Deutsche Bank's head of Latin American trading, Cristian Binaghi, is no longer working for the bank, two market sources familiar with the situation said on Tuesday.

His departure, however, was not related to ongoing investigations into the alleged manipulation of the global currency market, one of the sources said, adding that Binaghi's last day was Monday, March 10.

The specific reason for his departure was not clear.

The sources spoke on condition of anonymity because Binaghi's exit was an internal bank matter.

Prior to his departure, the New York-based Binaghi, a managing director, oversaw trading on foreign exchange, local markets, external debt, and interest rate swaps. He had been with Deutsche for more than 10 years.

His LinkedIn profile showed that he studied at the Universidad de Buenos Aires.

Deutsche Bank spokeswoman Renee Calabro in New York declined to comment on Binaghi's departure. She said the bank does not comment on individual staff.

Binaghi could not be immediately reached for comment.

Reuters has previously reported that Deutsche has contracted the services of an external consulting firm to look into currency activities and communications of the bank's traders all over the world.

The global probe into online communications between traders and allegations of manipulating benchmark currency rates known as "fixings" has seen more than 20 traders at many of the world's biggest banks put on leave, suspended or fired.

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