Director escapes Deutsche Bank after bonuses are paid

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One swallow doesn't make a summer and the disappearance of one single director from Deutsche Bank on the first day of spring may not herald a mass migration to rival banks. Nonetheless, coming as it does less than a week after Deutsche's bonuses arrived in bank accounts, it might be taken as a sign of things to come...

Boris Lemke apparently has somewhere else to go to, although where this might be is not entirely clear. Deutsche Bank isn't commenting on Lemke's leaving and Lemke himself didn't respond to a request to comment.

Most of Lemke's career has been at DB. He worked there nearly 11 years in total, although this was punctuated by three years at Morgan Stanley in Frankfurt between 2006 and 2008.  Since 2013, Lemke was head of Deutsche's London private debt syndicate team, working on providing unsecured and secured loans to Deutsche's corporate clients.

It's the kind of profile that's popular with hedge funds and and private equity funds in the private credit space - and with banks that are trying to push into this market. Witness Goldman Sachs' recent recruitment of Patrick Ordynans, who previously spent nearly six years investing in Germany as a managing director at Alcentra, an asset management firm focused on sub-investment grade corporate debt...

Deutsche might wish it did more to keep Lemke happy. After six years, he might at least have been promoted to MD this year.

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