International
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The firm has hemorrhaged senior investment bankers in 2019, many of them since a reorg announcement this summer.
- This summer, Deutsche Bank announced a massive overhaul: unveiling plans to gut its stock-trading business, restructure its investment bank, and lay off 18,000 employees around the world.
- In an already red-hot hiring market for US investment bankers in 2019, competitors have poached a slew of senior bankers from the beleaguered German lender.
- Through the first three quarters, the firm lost more than 15 managing directors in the US and nearly 30 worldwide, according to data from Wall Street headhunters.
- Business Insider has put together a guide to the 40 most notable US investment-banking moves of 2019. The list includes seven departures from Deutsche Bank.
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No matter what, it likely would have been difficult for Deutsche Bank to hold on to investment-banking talent in the US this year.
Apart from the firm's mounting losses and a plummeting share price, competition for top rainmakers remained at a fever pitch in 2019 following an exceptionally competitive year in 2018.
But then in June the beleaguered German lender announced a massive overhaul, unveiling plans to gut its stock-trading business, restructure its investment bank, and lay off 18,000 employees around the world.
Whatever patience - or hopes attached to a rebound in the value of Deutsche stock options - that had remained among the firm's top dealmakers seemed to vanish after that.
The firm has hemorrhaged senior investment bankers in 2019, many of them since the reorg announcement this summer. Through the first three quarters, the firm lost more than 15 managing directors in the US and nearly 30 worldwide, according to data from Wall Street headhunters.
Deutsche Bank hasn't been entirely silent on the hiring front, though. In some cases, it's even paying "danger money" to bankers in select areas where it wants to grow and continue to compete.
They've brought in several financial sponsors managing directors this year, including Nick Agarwal from Wells Fargo, as well as senior industrials banker Ian Woods, a building materials specialist previously at Jefferies.
Business Insider put together a guide to the most notable US investment-banking moves of 2019, working with senior headhunters and consultants who are in the trenches and tracking all the moves to narrow a list of more than 200 hires and departures down to the 40 most high-profile moves.
Seven of the biggest hires this year were poached from Deutsche Bank, more than any other firm. (Note: That doesn't include European based bankers outside our scope, such as investment banking chief Garth Ritchie.)
Read on to see the most notable bankers from Deutsche Bank's investment banking exodus.
