Deutsche Bank is reportedly set to appoint Plamen Balchev, Bank of America's former head of EMEA rates sales, as it strengthens its fixed income sales capabilities serving hedge fund clients, according to a report by eFinancialCareers.

Balchev is understood to be joining the German lender following a period of gardening leave, having spent less than 18 months at Bank of America after joining in June 2025. He previously worked at JPMorgan for 12 years and Goldman Sachs for three years, bringing extensive experience in institutional rates sales.

His appointment adds to Deutsche Bank's senior rates sales team, which includes Noel Cochrane, head of EMEA rates sales for official institutions, who joined from Barclays in 2025. Balchev is expected to focus on hedge fund clients, although his precise responsibilities have yet to be confirmed.

The move comes amid continued competition among investment banks for experienced fixed income sales professionals, as hedge funds navigate heightened volatility across government bond and interest rate markets.

Neither Deutsche Bank nor Bank of America commented on the reported appointment, while Balchev did not respond to requests for comment.