Deutsche Bank has added a second senior equity derivatives executive to its ranks in the US in a revamp of its activities in the Americas. The German bank has appointed Daniel McNeill (pictured) as a managing director within its US equity derivatives team, in New York. McNeill will report to Mark Chen, who was appointed co-head of equity derivatives for the Americas last week, and fellow co-head, David Silber, who joined the German bank from Citi, according to sources. Both Chen and Silber report to Brad Kurtzman, head of equities, Americas, also in New York.

McNeill joins from Credit Suisse, where he was head of Americas equity derivatives. He was previously a managing director in equity derivatives at JP Morgan, where he held a number of roles, including head of US volatility trading, as well as index and exchange-traded fund trading, corporate derivatives and exotics and structuring within equity derivatives. McNeill replaced managing director Abib Bocresion as head of equity exotics and hybrids group in New York, when Bocresion moved to head interest-rate and credit exotics and hybrids. Prior to that, McNeil was a director at ABN Amro in London, and worked in equity derivatives structuring at Citi, also in London.

Other recent appointments in Deutsche's equities Americas team include Chen, previously head of flow derivatives at Citi, Silber, who also joined from Citi, and David Fournie,who joined the German bank last summer as head of equity exotics trading in New York from Morgan Stanley.

The appointments in equities derivatives follow a period of declining revenues and market share in the US structured products market which saw the bank slipping out the top 10 US bond providers. This year,  Deutsche's activity makes it the eighth most active bond provider in the US.

The bank launched three new divisions last year, including a private and commercial bank, Deutsche Asset Management, and an integrated corporate and investment bank. Deutsche's global markets reported net revenues in 2016 of €9.3bn, a 14% decline on the year; while corporate and investment banking's revenues last year declined by 7%, to €7.5bn. It launched a $50bn business to house its hedge fund, risk premia and retail structured products within a new global investment solutions division at the end of 2016.

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