(Bloomberg) — The Deutsche Bank AG executive whose responsibilities included its U.S. dark pool has left the company.
Jose Marques, the New York-based global head of electronic equity execution at the bank, departed today, according to a person familiar with the matter who asked to not be named because the decision hasnt been made public. His job at Deutsche Bank included overseeing the third-biggest U.S. dark pool, an industry term for private stock trading platforms that compete with public exchanges.
Marquess role will be filled by two London-based managing directors, with Andrew Morgan and Robert Casebourne becoming co- heads of electronic trading, the person said. They will report to Andre Crawford-Brunt, global head of equity trading. Deutsche Bank spokeswoman Amanda Williams declined to comment.
Wall Streets electronic trading desks are facing increased scrutiny. New York Attorney General Eric Schneiderman in June accused Barclays Plc of misleading customers on its dark pool, knocking the venues market share ranking to 14th place from No. 2.
Marques joined Frankfurt-based Deutsche Bank in 2010 from Credit Suisse Group AG, where hed been a managing director in the firms alternative execution products group. He has also worked at Morgan Stanley and Goldman Sachs Group Inc.
Hed recently been a candidate to become president of stock exchange operator Bats Global Markets Inc., according to people familiar with the matter. Chris Concannon of trading firm Virtu Financial Inc. got the job instead. At Deutsche Bank, Marques was a member of the Bats board.
Deutsche Banks equity trading revenue amounted to 2.2 billion euros ($2.8 billion) during the first nine months of 2014, almost unchanged from a year earlier. The bank lost market share in the four main equities businesses in the first half of the year from the same period in 2013, according to London-based analytics firm Coalition Ltd.