Deutsche Bank's London TMT juniors keep leaving, allegedly due to overwork
Depending upon who you talk to, Deutsche Bank's London technology, media and telecoms (TMT) team is either an amazing place run by an "amazing and intellectual" managing director (MD), or a gruelling experience, run by a workaholic.
Deutsche Bank isn't commenting on either narrative, but sources at the bank who favour the latter are pointing out that a lot of people have left the team in recent months. Many, but not all, are junior.
We count nine exits. They include Aditya Kaushik, who moved internally into leveraged finance in April 2024 after just over two years in TMT. There's also: Matt Friend, an MD who left after 13 years at Deutsche Bank in August (and who's now looking for work in San Francisco and who declined to comment); Angela Xia, a former associate now at Moelis in Australia; Caterina Pisetta, another associate who's moved to the buyside with the Qatar Investment Authority; Vasilis Chaloulakos, a former coverage banker who's moved to Greece; Aditya Chugh, an associate who is understood to have left for private equity; Johan Fohlin, who quit to join KKR; and Daniel Aliwell, an associate who's thought to have resigned recently.
Insiders say the exits are unprecedented and that others are looking to leave too. Deutsche Bank's EMEA TMT team is run by co-heads Mathew Mathew and Martin Blanquart. Sources suggest that Matthew in particular is a hard task master. "He's like a machine," says one. "He'll be up working until 1am and will be back at 6am sending you the first set of comments."
Not everyone agrees. Mathew has plenty of internal fans who describe him as "the best" and claim that they want to work with him for this reason. Those fans point out that the exits from his team are simply people stretching their legs and leaving for the buyside or for corporate development roles.
The EMEA TMT team is understood to be bigger rather than smaller this year, and to have increased its market share.
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