The Wall Street Journal-20080201-Bond Maven Leaves Deutsche Bank

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Bond Maven Leaves Deutsche Bank

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Martin Fisch has left Deutsche Bank AG, where he helped build its major business as an originator of convertible bonds in Europe, people familiar with the matter said.

Mr. Fisch, 33 years old, was head of Equity Linked Origination in Europe, a role in which he helped companies sell convertible bonds, or bonds that can be converted into shares. He has been considered a highflier in Europe's equity markets for years. Recently, the markets for the types of bonds he worked on have struggled.

A Deutsche Bank spokeswoman declined to discuss Mr. Fisch's departure or whether a successor will be named. The bank has moved to integrate its equity-linked department into another part of its business.

Mr. Fisch is expected to move to a hedge fund, a person familiar with the matter said.

Mr. Fisch joined Deutsche Bank in the U.S. in 1996. He moved to London in 1998 and switched to helping companies issue convertible bonds. He became the head of the bank's equity-linked department in 2003.

In 2000, convertibles went through a huge boom, but issuance tailed off in 2004. As the market struggled, Mr. Fisch took on other roles at Deutsche Bank, mainly in structuring derivative products for companies.