Christian Klocke and Christian Güntzel have both left Commerzbank’s syndicate desk, with the former set to take up a role at DZ Bank away from covered bonds.

(Updated to include Klocke detail and Commerzbank comment.)

The two bankers are understood to have departed Commerzbank just before Christmas.

“We continue to have a strong and experienced covered bonds syndicate team that is able to absorb the recent personnel changes,” said a Commerzbank spokesperson. “We are currently defining how exactly to fine-tune this team going forward.”

Klocke joined Commerzbank in 2007 from DZ Bank, where he had been a senior covered bond trader, and he is set for a return to DZ, although in credit rather than covered bonds.

Güntzel also worked at Commerzbank for over a decade.