April 27 (Bloomberg) -- Deutsche Bank AG hired eight investment bankers and equity market specialists in Asia after slipping in advising on mergers in the region.

Germany's biggest bank hired Gordon Paterson, 46, as Asia head of mergers and acquisitions excluding Japan from Citigroup Inc. Angus Barker, 38, former head of UBS AG's financial sponsor group, which advises and finances buyout firms, will also join the Frankfurt-based bank as head of the group in Asia Pacific, Deutsche Bank spokesman Michael West said.

Zhang Lee, Deutsche Bank's Asia-Pacific regional head of global banking, is adding employees after the value of announced takeovers in the region reached a record $187 billion last quarter. Deutsche slipped to seventh this year from fourth in 2004 in advising on Asia-Pacific acquisitions, ceding ground to UBS and Morgan Stanley.

``We are investing to service both increasing demand from existing clients and to build out our advisory and equity capital market capacity to serve new clients,'' Zhang, 42, said in an e-mailed response to questions.

Paterson will replace Doug Morton, who will head Deutsche Bank's real estate investment banking in Asia-Pacific. At UBS, Stephen Gore, a banker in the financial sponsors group, will assume Barker's position. Both Paterson and Barker were hired as managing directors.

Paterson, who has an MBA from the University of Western Ontario, joined Citigroup in 2002.

Takeover Rankings

Deutsche Bank ranks seventh in advising on takeovers in Asia Pacific excluding Japan this year, down from sixth in 2006, Bloomberg data shows. UBS has held the top spot since 2004, and Citigroup ranks fourth this year.

The German bank worked on Industrial & Commercial Bank of China Ltd.'s $22 billion IPO in October, and helped manage three other sales. Its only Chinese underwriting assignment so far this year was the $111.7 million initial share sale of Acorn International Inc. this month.

Zhang also hired William Choi as head of Korea and Villard Zhou as a China banker. Both worked before at JPMorgan Chase & Co and their titles at Deutsche Bank will be managing director, Zhang said.

Jason Bahnsen of Macquarie Bank Ltd. joined Deutsche Bank as director and head of metals and mining, West said.

Deutsche Bank said it's also boosting its Asian equity capital markets team. It hired Sun Kwan as managing director from Morgan Stanley; Steven Yoo as a director from JPMorgan; and Lawrence Lau as vice president from Credit Suisse Group.

Departures

Deutsche bank, the top arranger of equity-linked deals in Asia excluding Japan last year, is adding to its capacity in that area by hiring Sun. This month, the bank arranged a $500 million exchangeable bond for China Overseas Holdings Ltd., the first such bond issued by a Chinese property company.

The German bank is filling holes after losing at least five investment bankers since March, including the China team's Jerry Tse and Daniel Qiu on the energy team. They both joined Morgan Stanley, bankers familiar with the moves said.

Also departing were Teddy Xiong on the China team, and financial institutions bankers David Zhang and Summer Xia, the bankers said. Managing Director Eugene Qian quit last month and joined Citigroup's China team.

Deutsche Bank plans to announce more hirings next week, West said.

Shares of Deutsche Bank declined 1.1 percent to 112.70 euros as of 4:13 p.m. in Frankfurt.

To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net.

Last Updated: April 27, 2007 10:16 EDT