Deutsche Bank, which has already seen some of its most respected government bond traders poached by competitors, has lost another senior trader. Vivan Sethi, who joined Deutsche in April last year, has left the bank, and is believed to be joining another rival house.

Sethi ran the bank's five- and 10-year German government bond books - widely believed to be the largest on the Street - and also did some proprietary trading and research for the bank. Previous to working at Deutsche, Sethi had worked on the government bond desk at Salomon Brothers.