Goldman lures David Sanders from Deutsche

Sanders, 38, had spent his entire City of London career at Deutsche or its predecessor investment banks. He joined the former broker Wood Mackenzie nearly 20 years ago in a temporary post before going to university but never left.

His exit last week took place within 24 hours of the departure of Deutsche's highly rated media analysts, Mark Beilby and Craig Watson, to JP Morgan. JP Morgan has also recruited salesman Alex Torrance from the German investment bank.

Sanders is thought to be joining Goldman on a huge pay package with the bank effectively buying him out of a substantial accumulated incentive package at Deutsche.

He was recruited by Phil Hylander, Goldman's co-head of Pan European equities, who had worked with Sanders at Deutsche before he joined the US investment bank a year ago.

This is the second time Hylander has pounced on former colleagues among Deutsche's marketmakers.

Last year, Goldman hired Howard Spooner, the highly rated telecoms marketmaker, on a package rumoured to be $10m (€8.8m) spread over three years. Hylander said such rumours were much exaggerated.

Nonetheless, Spooner has enough money to keep several race horses in training at Lambourn in Berkshire. His most famous horse is named Charlie McQueen, after Deutsche's eponymous wealthy sales trader, a legendary figure in the Square Mile.