One of Deutsche Bank's top hedge fund salespeople left for a hedge fund

Rayan Bouchikhi is leaving Deutsche Bank. It's thought that he's joining a hedge fund and it's thought that this hedge fund is Balyasny. 

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Deutsche Bank declined to comment, and neither Baylasny nor Bouchikhi responded to an invitation to shed light on what has occurred.

Bouchikhi only joined Deutsche Bank in 2023 after previously spending a decade at UBS. He was a director in rates sales at DB, but this is thought to understate his significance to the team. It's thought that Bouchikhi was one of Deutsche's major revenue generators and that he helped transform the German bank's euro swaps business in London.

Deutsche Bank may well have attempted to persuade Bouchikhi to stay. He's understood to have been very well remunerated by the German bank. However, hedge funds - and Balyasny in particular - have deep pockets. Jamie Mansell, Deutsche Bank's former head of European government bond trading, went to Baylasny in June after allegedly generating €200m in profits for Deutsche Bank over several years. 

Deutsche Bank's European rates business is co-headed by Alok Modi, who joined from Morgan Stanley in 2020 and by Hadley Parrie, who joined from Barclays in 2023. Both are thought to have been strong supporters of Bouchikhi.

As a salesman, it's not clear what Bouchikhi will do in a hedge fund. It's possible he will join as a chief of staff or COO. In the meantime, he is possibly on a beach.

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