April 25 (Bloomberg) -- Commerzbank AG, Germany’s second-biggest lender, named Christoph Thierolf head of its mergers and acquisitions business.
Thierolf has worked at Commerzbank since 2008 as co-head of its M&A health-care and pharmaceuticals team, according to a statement from Commerzbank. He’ll be based in Frankfurt and report to Roman Schmidt, global head of corporate finance at the investment-banking division.
Thierolf’s appointment comes amid other moves by some of Germany’s senior M&A bankers, including Kai Tschoeke, Morgan Stanley’s chief of German and Austrian deals, who is leaving the New York-based bank after more than 20 years. Ken Oliver Fritz, Credit Suisse Group AG’s head of investment banking for Germany, is leaving to become co-head of Germany at Lazard Ltd.
Thierolf succeeds Philipp Mohr, who left the lender last year to open a German office for William Blair & Co., a Chicago-based investment bank owned by its employees.
M&A volume in Germany, Europe’s largest economy, fell to the lowest level since the second quarter of 2012 in the first three months of the year, according to data compiled by Bloomberg.
“Christoph brings with him management skills that are required to develop our existing M&A capabilities in Germany and abroad,” Schmidt said in a statement.
Before Commerzbank, Thierolf worked in the M&A division of Fresenius SE and Pharma Group, the bank said. Commerzbank, based in Frankfurt, advised on Apax Partners’ sale of German direct sales company LR Health & Beauty Systems to Bregal Capital and Quadriga Capital, announced in December.
Commerzbank shares rose 1.4 percent to 10.55 euros in Frankfurt today, valuing the bank at 6.2 billion euros ($8.1 billion).
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