Patrick Seifert will next month become head of primary markets at Landesbank Baden-Württemberg (LBBW), taking over from Patrick Steeg, who will move to the issuer side at the German bank.

As of 1 April and after 10 years in syndicate and DCM at LBBW, Patrick Steeg will take over responsibility for asset and liability management, including funding and investor relations, reporting to Ingo Hansen, head of treasury.

Patrick Seifert, hitherto Steeg’s deputy, will take over as head of primary markets, reporting to Dirk Kipp, head of financial institutions and markets. LBBW said that the set-up of the department will otherwise remain unchanged.

“We remain convinced that this move will help the bank in responding better to the requirements of the future,” LBBW said in a statement, “and, therefore, maintaining LBBW’s position as a leading covered bond house – both as an issuer and dealer to its clients.”