Although Deutsche Bank fixed income traders did not fare badly when the bank announced its results earlier this week, its credit traders did not fare as well as their macro brethren. Foreign exchange rates and earnings were “significantly higher”, DB said; credit trading revenue was “significantly lower.”
It’s unclear whether this significant drop contributed to Matthew Mezger’s decision that the time was right to quit his credit trading job at Deutsche Bank for crypto, but Mezger did. He is no longer with the New York office of Deutsche Bank Investment Grade. He is a crypto trader at Digital Currency Group in Stamford, Connecticut.
Mezger didn’t answer our question on “Why now?”, given the freezing conditions in the crypto world.
We suspect, however, that the switch to crypto trading was just the culmination of a long career in trading and technology and the intersection of the two. Mezger started as a software engineer in e-commerce before becoming head of North American rates and credit e-commerce technology at Deutsche Bank, eventually becoming a credit trader. As a trader, he worked on portfolio and algo trading, so turning into crypto might seem like the next step in his evolutionary process.
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