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CommentPandM Notebook

Deutsche’s new-found pulling power

close up. a variety of business people passing through the office business center.

Bankers seem to be buying the story of resurgence at Germany’s flagship investment bank

As it looks forward to the end of a thorough restructuring, a key test for Deutsche Bank will be whether it can manage to hire top investment banking and capital markets pros amidst an intense scrap for talent. A few recent signings show some success in this area.

For instance, the firm recently attracted Abdes Alaoui from Barclays to be its new head of CEEMEA capital markets and Andrés Copete from ING to join its Latin American debt capital markets team in New York.

In investment banking, meanwhile, Deutsche has hired managing directors joining from rivals Nomura and BMO Capital Markets as part of the build-out of its healthcare coverage team.

Any bond bankers that are considering offers from the German firm may be encouraged by its recent surge up the SSA bookrunner league table. The loyalty of key investment bankers in Europe can’t have been hurt by a series of recently announced promotions in London and Frankfurt.

Will DB be able to maintain the hiring momentum while retaining its remaining rainmakers? Watch this space.

NatWest leavers

Elsewhere, another bank is also in the home stretch of a restructuring. At NatWest, however, the recent moves reported by GlobalCapital have been in the other direction.

Jonathan Pughe, the bank’s long-standing head of syndicated loans in EMEA, is said to be leaving in September as part of the reorganisation, which has seen headcount across the group fall by 4,000 since March 2020.

A director in NatWest’s private placement team, Ernie Chesculescu, has also left, having been recruited by Santander to replace Tony Fordham.

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