Dow Jones Newswires reports that Deutsche Bank has recently hired a senior trader from Goldman Sachs who is said to have executed many of the trades at the center of the recent treasury bond scandal which cost Goldman $9.3m in order to settle with US regulator the Securities and Exchange Commission (SEC).
Deutsche appointed 35 year-old Jason Evans in September from Goldman, where he ended his days as head of the firm’s Government Desk. He joined Deutsche as co-head of its US Treasuries Group. The hire is now back in the news as it is alleged that Evans was the man who made most of the trades based on information said to have been passed on by former Goldman economist John Youngdahl, who has now pleaded guilty to securities fraud and wire fraud for using nonpublic information to help Goldman profit.
But, it seems, Deutsche knew all about the issues when it hired Evans and, although he is believed to have been investigated by the SEC, no charges were ever brought against him. Evans was never charged with any wrongdoing and should now be left alone to get on with his job.