Pasquale Cataldi, head of European government bond and swaps trading at Deutsche Bank, has left the firm to join Bank of America Merrill Lynch as co-head of euro swaps, Financial News has learned.

Cataldi had been with Deutsche Bank for over a decade, and is a well-known figure among traders and brokers in the market. He had previously been a rates analyst at JP Morgan. The move will be a blow for Deutsche Bank's strategically important sovereign origination and trading business.