Deutsche Bank Securities has hired Rob Flatley from Banc of America Securities as a managing director and head of global electronic execution for equities.
Flatley was previously a managing director in electronic trading services (ETS) at Banc of America Securities. He was integral to establishing the unit, which was formed in February 2004 and is dedicated to developing software for delivery to the firm's institutional investor clients.
Flatley is the latest in a number of staff to leave the ETS division. In February investment banking group Jefferies poached 13 staff from Banc of America Securities to grow its prime brokerage and electronic trading operations
Prior to joining BoA Flatley was chief operating officer of Boston order management technology firm Macgregor, which was acquired by New York-based Investment Technology Group (ITG) last year.
Deutsche Bank says Flatley will be based in New York and will report to Jon Hitchon, head of global prime services and Robert Karofsky, head of global markets equity in North America.
Commenting on the appointment Hitchon says the bank is seeing an increasing demand from hedge fund clients for electronic execution services and Flatley will take a central role in defining the global equities electronic execution strategy.
The German bank has also appointed Ralf Roth as head of business development for global equities electronic execution within global prime services.
In this role, Roth will work closely with Flatley to enhance Deutsche Bank's global equities electronic execution capabilities.