Morning Coffee: Deutsche Bank elaborates on its banker hiring spree. 28 year-old finance millionaires contemplated nuclear bunker
Fabrizio Campelli, the friendly face of Deutsche Bank's corporate and investment bank, has contributed to his cuddly quotient with further elaboration on all the bankers he's hired so far and all the bankers he plans to hire still.
Campelli told the South China Morning Post that a third of the 50 new bankers Deutsche has hired this year are based in Asia, with a focus on Hong Kong and Greater China. Deutsche's Hong Kong hiring isn't done, said Campelli. There are, "more hires to come;” people are still being onboarded.
Deutsche's Hong Kong hiring reflects its European clients' enthusiasm to "play" in Asia, declared Campelli. He added that the bank has been availing itself of some "really good talent" there, which presumably includes the likes of Joe Lai from Credit Suisse and Samuel Lim from Morgan Stanley, who are joining as chairman of origination and advisory and chairman of M&A respectively.
Campelli's Asian hiring declaration is the latest in a series of statements about all the people he's been adding at Deutsche Bank this year. In April, he told the Financial Times he'd hired 26 managing directors (MDs) in two months and said the «UK is a natural market to focus on» with high-returning businesses like M&A and equity capital markets (ECM) key. In May, he spoke to Bloomberg and said he'd hired «50 industry coverage deal makers and product experts» since January and was doing some «selective hiring» for «those parts of the investment bank that tie up little capital such as M&A advisory.»
Deutsche Bank is due to report its second quarter results next week. In the first half of 2023, however, Dealogic says its investment banking revenues fell by 35% — more than any other bank except Credit Suisse.
Separately, what
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