The wave of exiting investment bankers in Hong Kong’s souring market continues to grow, this time with Deutsche Bank losing a handful of executives, finews.asia has learned.
At least four investment bankers in Hong Kong have left Deutsche Bank, sources told finews.asia, further adding to the industry’s recent uptick in turnover. The departures include executives from various divisions across Chinese structured financing, real estate and fixed income.
A spokesperson for the bank declined to comment.
Exit Wave
Deutsche Bank is the latest to join the wave of investment banking exits witnessed throughout Hong Kong.
Yesterday, finews.asia reported the departure of at least four Hong Kong-based investment bankers at Credit Suisse across divisions including TMT (tech, media and telecoms), M&A and FIG (financial institutions group). Other foreign lenders that have also reportedly lost investment bankers in Hong Kong include HSBC, UBS and Citi. Global banks aside, China's Haitong International, Guotai Junan International and China Merchant Bank International have also all reportedly laid off staff across divisions.
As of end-May, Hong Kong’s main board raised around HK$17 billion ($2.2 billion) from IPOs – down 91 percent year-on-year – according to data from the city’s exchange.
