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Deutsche Bank Hires Citigroup’s Sommer as Head of Energy M&A

July 26 (Bloomberg) -- Deutsche Bank AG, Germany’s biggest bank, said it hired Greg Sommer as managing director and head of energy mergers and acquisitions for the Americas.

Sommer most recently was head of energy M&A at Citigroup Inc., Frankfurt-based Deutsche Bank said today in a statement. Sommer will report to Bruce Evans, head of M&A for the Americas, according to the statement.

Deutsche Bank aims to double pretax profit at its operating businesses by 2011 to 10 billion euros ($12.9 billion) from 2009, helped by gains in investment banking and Asia. The investment bank, known as corporate banking and securities, is forecast to earn 6.3 billion euros in profit next year and transaction banking 1.3 billion euros.

To contact the reporter on this story: Craig Trudell in New York at ctrudell1@bloomberg.net

To contact the editor responsible for this story: Rick Green in New York at rgreen18@bloomberg.net.

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