Deutsche (DB) Nabs Goldman’s (GS) Solomon to Run CMBS Trading

Deutsche Bank AG (NYSE:DB) hired away Ben Solomon from Goldman Sachs Group Inc. (NYSE:GS) and will place him over the commercial-mortgage backed securities trading unit of the company.

Solomon, who traded derivatives tied to commercial real estate loans at New York-based Goldman Sachs, will run secondary commercial-mortgage backed bond trading at Deutsche Bank, according to a person familiar with the move. Renee Calabro a Deutsche Bank spokeswoman, confirmed the hire.

Deutsche Bank is bulking up in trading commercial-mortgage-backed securities as banks have issued about $8 billion of the debt this year, compared with $11.5 billion in all of 2010, according to data compiled by Bloomberg. Deutsche Bank and UBS AG sold $2.2 billion of the securities last month in the largest offering since 2007 before the market seized up amid the financial crisis.

Deutsche was trading at $58.21, down $0.79, or 1.34 percent, as of 1:31 PM EDT.




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