Two years after shutting down most of its equities business in Asia, Deutsche Bank will look to expand again with new hires across capital markets roles.
Deutsche Bank plans to hire 10 to 12 bankers, according to a «Bloomberg» report, across equity capital market (ECM) roles including origination, distribution and research.
The hires are being made through a recruiter with candidates being targeted across the region including Hong Kong and Southeast Asia. Discussions are ongoing and the number of hires could change.
SPAC Focus
According to the report, the ECM unit will focus on serving established clients with strong relationships rather than extensively pursuing small to mid-sized firms.
It will also likely mirror the bank’s U.S. strategy where it is focused on special purpose acquisition companies (SPAC); tech firms; and existing clients which have been proven to be profitable.
Despite significantly downsizing its Asia ECM business two years ago, the German lender has partially reversed the move amid growing fundraising needs, including through SPACs where the blank cheque vehicle has attracted the likes of Hong Kong’s richest Li ka-shing and New World Development’s Adrian Cheng.
