Next Wells Notice? Deutsche Bank Replacing Greg Lippmann As Head Of CDO Trading
The (in)famous Greg Lippmann is gone. The question is why? Is Deustche Bank about to report the next Wells receipt?Of course not: Goldman did not do so even though it held it for 9 months.
April 20 (Bloomberg) -- Deutsche Bank AG named Pius Sprenger as head of trading for asset-backed securities and collateralized debt obligations, replacing Greg Lippmann, whose bets against subprime mortgages helped the firm weather the financial crisis.
Sprenger previously ran European asset-backed and CDO trading for Deutsche Bank in London, according to two people familiar with the matter who declined to be identified because the move hasn't been made public. Renee Calabro, a spokeswoman for Frankfurt-based Deutsche Bank, Germany's largest lender, declined to comment. Sprenger couldn't be reached for comment.
Lippmann, 41, is joining an investment firm being started by Fred Brettschneider, Deutsche Bank's outgoing head of global markets in the Americas. Brettschneider's departure and plans were announced internally in a Feb. 24 memo.
Yes, this is the same Greg Lippmann of "Fuck You, I Am Short Your House" fame.