Deutsche Bank Hires Joshi From Barclays To Head EMEA Equities

14th Jul 2010 08:51

LONDON (Dow Jones)--Deutsche Bank AG (DB) has hired Dixit Joshi from Barclays PLC (BCS) to head its equities business in Europe, the Middle East and Africa, in a setback for Barclays Capital's efforts to build out its stock business globally. Joshi had been head of equities for EMEA at Barclays, a business he helped to establish and grow since 2008. Barclays' ambitions in equities were boosted by its acquisition of the equities trading business of Lehman Brothers that year and it has since been on a major hiring spree in Europe and Asia, taking on about 750 people. At Deutsche Bank, Joshi will report to Garth Ritchie, global head of equities. "Following the financial crisis we created a diversified business focused on liquid client flow trading. We are the market leader across European cash equity, derivatives trading and prime brokerage and Dixit's experience will be invaluable in building further on our momentum in this business," Ritchie said. A Barclays spokesman said a replacement hasn't been named yet. Joshi had worked at Barclays since 2003. -By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; [email protected] (END) Dow Jones Newswires July 14, 2010 03:51 ET (07:51 GMT)