Deutsche Bank recruits BofA hedge fund rates sales head

Deutsche Bank is reportedly set to hire Plamen Balchev, who previously served as Bank of America's head of EMEA rates sales, to bolster its fixed income sales operations catering to hedge funds, according to a report by eFinancialCareers. Balchev will join the German bank after a brief stint of gardening leave, having only been with Bank of America for under 18 months since his June 2025 start.

Prior to Bank of America, Balchev spent 12 years at JPMorgan and three years at Goldman Sachs, accumulating substantial experience in institutional rates sales. His addition to Deutsche Bank's senior rates sales team, which already includes Noel Cochrane, the head of EMEA rates sales for official institutions who transferred from Barclays in 2025, highlights the bank's push to strengthen its fixed income sales capabilities.

Balchev's role is expected to focus on hedge fund clients, though his specific duties have not been officially outlined. The appointment is seen as part of the ongoing competition among investment banks for skilled fixed income sales professionals, given the volatile market conditions in government bond and interest rate markets.

Neither Deutsche Bank nor Bank of America have commented on the reported hiring, and Balchev declined to provide a response when asked for comment.