Deutsche's U.S. bankers are defecting to JPMorgan, Credit Suisse
Following on from our article yesterday on Deutsche's lost U.S. M&A bankers and its efforts to hire all sorts of replacements, it seems another two senior people have exited the German bank in the Americas.
According to their LinkedIn profiles, both Robert Carlson, a Deutsche Bank managing director in San Franciso, and Jeremy Fox, a Deutsche Bank managing director in New York, have got new jobs.
Carlson, who lead Deutsche's corporate banking coverage of technology companies on the West Coast is now at JPMorgan, where he is also an MD.
Fox, who was a former head of Americas equity capital markets (ECM), has joined Credit Suisse in New York.
Carlson's FINRA registration shows him leaving Deutsche Bank on September 19th and registering with JPMorgan on the 23rd.
Fox's FINRA registration shows him leaving Deutsche Bank on the 9th and registering with Credit Suisse on the 10th.
Fox was a Deutsche Bank lifer - he'd been there 19 years. Carlson had only been there three years after joining from Mizuho.
In theory, Deutsche wants to remain engaged with the U.S. investment banking market, but more selectively than before. Deutsche is making 'strategic hires' globally in its advisory and origination business, but in the U.S. is focusing on sectors that help support European clients.
Fox's exit from ECM comes after Deutsche pulled out of equities sales and trading, but kept some salespeople and researchers to support an ongoing ECM business. Earlier this month we reported that Deutsche has been offering $2m packages to retain top ECM bankers in the U.S.. That doesn't seem to have persuaded Fox to stay.
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