Dresdner Kleinwort Wasserstein (DrKW) has lost Gilles Bransbourg, one of its senior foreign exchange sales directors, to rival investment bank Bear Stearns.

Bransbourg was a director responsible for forex sales for France, Iberia and the Middle East at DrKW. At Bear Stearns he will head the US bank's European foreign exchange sales, reporting to the highly experienced Jerome Camblain, who joined as head of fixed income for Europe and Asia from Nomura earlier this month.