Deutsche Bank's Sebastien Cottrell has assumed responsibility for securitized products trading globally following the announced departure of John Hanisch, according to a source.

Cottrell most recently served as head of US Collateralized Loan Obligation (CLO) trading, according to an internal memo obtained by LPC.

Hanisch, who most recently served as global head of securitized products trading, joined Deutsche Bank in 2007, Riddhi Barman, head of global credit financing and solutions, US, wrote in the memo. At the bank, Hanisch also served as a leader of the graduate advisory board in the Americas for a number of years, the memo says.

A Deutsche Bank spokesman and Hanisch both declined to comment. Cottrell did not immediately respond to an email seeking comment.