Deutsche Asset Management, the investment subsidiary of Deutsche Bank, has recruited Julian Evans as head of its US mortgage-backed debt securities portfolio from TimesSquare Capital Management, the US investment management company.

Evans, who joined DeAM in New York on Monday, will oversee the group's $26bn (€22bn) mortgage-backed debt portfolio, which comprises almost one quarter of DeAM's $107bn portfolio of bond investments. He will be responsible for trading, analysing and disseminating strategies in the mortgage-backed debt sector.