Deutsche Bank has appointed Michael Paasche to the newly created position of head of loan products, a role that includes responsibility for managing the bank’s global leveraged loan portfolio, overseeing loan sales & trading in the Americas and running senior debt capital markets and asset-based lending. Paasche, who since 2000 had been Deutsche’s head of leveraged loan portfolio management, will continue to report into Thomas Gahan, head of corporate finance in the Americas. He’ll share responsibility for senior debt capital markets with Richard Byrne, head of capital markets, who had been running both the loan and bond side of the business.
Paasche is a member of the firm’s underwriting committee and had been more of an internal manager until this appointment, although he has a history at the old Bankers Trust in sales and trading.
Dan Toscano, head of loan structuring and distribution in the Americas, and Kevin Sullivan, who runs the asset-based lending business, will now report to Paasche and Byrne.