The News: The Good and Bad at Deutsche

eFC logo

Deutsche Bank's snagging of 12 bankers from Merrill Lynch may be just the beginning. Deal Journal quotes Deutsche's head of FIG, Jorge Calderon, as saying the bank needs to get ready for a wave of consolidation among U.S. banks.

"There needs to be some consolidation in the banking system in the U.S.," Calderon said. "There are too many small banks." Deutsche Bank also believes that many merging banks will need the kind of services that a giant investment bank can provide: a sherpa to guide executives through the credit markets and advice on how to manage risks in portfolios of bank loans and other bundled credit.

I love it when big banks talk about the need to absorb small banks.

Anyway, the Deal's Baz Hiralal notes while things look good for Deutsche's FIG group, its proprietary trading desk, corporate banking and securities, and asset and wealth management units are in the crosshairs. They all lost billions. "So don't be surprised if the bank cuts loose traders and others while stocking up on dealmakers and advisers," Hiralal writes.

Twelve Merrill Lynch Bankers Leave. More to Come? [Deal Journal]

More to join Deutsche? [The Deal]

Meanwhile...

Gasparino on another kind of trickle down [Daily Beast]

https://www.thedailybeast.com/blogs-and-stories/2009-02-05/freak-out-on-wall-street

It's Obama's bureaucrats versus Wall Street's compensation consultants. Want to take bets? [Dealbook]

Watch for a new enforcement chief at the SEC [NY Post]

Merrill's Will Fuller becomes CEO of Lincoln Financial [InvestmentNews]

B of A's employees are not happy campers right now [

>Financial Week]

If you work for RBS, take the train [NY Times]

Down, but still raising money. Or trying to. [Dealbreaker]

Popular job sectors

Loading...

Search jobs

Search articles

Close
Loading...
Loading...