Deutsche Bank announced today that Hyung Myung Peak and Adam Yarnold have joined the firm 's Mortgage-Backed Securities (MBS) Group within the Global Markets Division. Peak joins from RBS Greenwich Capital as a Managing Director and Head of Private Label CMO Trading. Yarnold joins from UBS as a Director and Head of Adjustable Rate Mortgages (ARM) Trading. They are based in New York and report to Anilesh Ahuja, Head of MBS.
"We continue to enhance our mortgage platform by building a team with significant industry knowledge and valuable client relationships . The addition of Hyung and Adam complements our existing strengths and expands our presence into ne w areas of the mortgage market," said Ahuja. "The current growth in ARMs and the ongoing changes in interest rates make the mortgage hybrid business a vital part of our franchise. The expertise that Hyung and Adam bring to this space is an enormous asset to our business and our clients."
Deutsche Bank has recently made several key hires within MBS, underscoring the firm's commitment to the industry. Last month Christopher Babu joined the firm as a Director in Mortgage Derivatives Trading from Bank of Am erica. In addition, Ahuja and John Roach, Head of Mortgage Derivatives, both joined the firm from RBS Greenwich Capital in October.
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