NEW YORK- Deutsche Banc Alex Brown said it hired James Coley from Morgan Stanley Dean Witter & Co. to head its institutional client group for North and South America.
Mr. Coley, 41, will be a managing director in New York and oversee a 140-member sales force. Mr. Coley spent 15 years at Morgan Stanley, most recently as head of interest rate and derivatives sales.
The U.S. securities arm of Europe's biggest bank, Deustche Bank AG, is trying to expand its business in the United States by selling products such as foreign exchange, derivatives, and fixed income securities, including high yield and emerging market debt.
Deutsche Bank is one of the leading sellers of those products in Europe and Asia, but it lags rivals in the United States. The hiring of Mr. Coley "takes us to the next stage, where we intend to take on the best and brightest on their own turf," said Anshu Jain, the global head of Deutsche Bank Alex Brown's institutional group.