Deutsche Bank picks Peter Hornick to head credit sales

By Devika Patel

Knoxville, Tenn., Oct. 16 - Deutsche Bank Securities Inc. said it has hired Peter Hornick in its Institutional Client Group within the global markets division as a managing director and head of credit sales for North America.

Hornick is based in New York and oversees distressed debt, convertible bond, high grade, high yield and structured product sales groups.

Hornick joins from Lehman Brothers and reports to Lou Jaffe, managing director and head of ICG debt sales for the Americas.

Hornick worked six years at Lehman Brothers where he was, most recently, global head of the collateralized debt obligation group, overseeing trading, sales and research. Prior to that, he was global head of levered credit sales. Before joining Lehman, Hornick was a derivatives trader at Merrill Lynch in New York and London.

He earned a bachelor of science degree from Georgetown University and a master's in business administration from the University of Michigan.

"Peter has unique experience in derivatives, structured products and fundamental credit, which will provide our clients with a valuable perspective during these challenging times," Jaffe said in a press release. "He is an enormous asset to our world-class sales force and brings a long history with some of the largest and most successful institutional investors in the U.S."

Deutsche Bank is a Frankfurt, Germany-based financial services provider.

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