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Financials

UPDATE 1-MOVES-Deutsche Bank hires Nessel to head US high-yield trading

(Adds Nessel’s reporting line, additional details.)

NEW YORK, June 22 (Reuters) - Deutsche Bank has hired James Nessel to run US high-yield trading, according to sources.

At Deutsche Bank he will report to Shawn Faurot, the head of US credit trading, the sources said.

Nessel was previously the head of US high-yield trading at Citigroup.

After Nessel left Citigroup earlier this year, the bank named Faraz Naseer head of US high-yield trading, and Fran Sutter and Michael Schechter co-heads of US loan trading, LPC previously reported.

A Deutsche Bank spokesperson declined to comment. Nessel did not return a telephone call seeking comment. (Reporting by Kristen Haunss; Editing By Jon Methven)

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