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Deutsche Bank has appointed Jon Hitchon as Head of Global Prime Services effective immediately, following the resignation of Nick Roe earlier this week.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


Hitchon has long been respected within the Prime Services industry having been Co-Head of Deutsche Bank's Equity Prime Services business between 2001 and 2003.


During this time he played a vital role in helping Deutsche Bank become a leading player in the industry. For the past two years, he has been COO of Deutsche Bank's equity proprietary trading business.


"We are confident that Jon has the industry expertise, client contacts and management skills to maintain the growth momentum within Prime Services and Hedge Fund relationship management", said Alan Cloete, Head of Global Markets Finance at Deutsche Bank.


"Prime Services is a business that Deutsche Bank's Global Markets division is totally committed to, and one that plays to our strengths in derivative structuring, innovative financing solutions and traditional broking. Deutsche Bank believes that the quality of our Prime Services platform is vital to the partnerships we enjoy with hedge funds around the world today."


Hitchon will be based in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />London and will report directly to Cloete and Yassine Bouhara, Head of Global Equity Derivatives.

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