Deutsche Bank has hired a senior trader for its fixed income division from HSBC, illustrating the German lender’s desire to hold onto key investment banking businesses even as it sheds jobs in equities trading.

The bank has hired Dan Timošenko as head of precious metals trading for Europe, the Middle East and Africa, it confirmed. In a statement on his LinkedIn profile, Timošenko said he was set to “rebuild a business that was once in the top echelons of the precious metals industry”.