Deutsche Bank AG hired Goldman Sachs Group Inc. veteran Celeste Guth as co-head of its global financial institutions group.
Guth, who was a partner and vice chairman of FIG at Goldman Sachs, will be a managing director based in New York and run the investment-banking unit with Tadhg Flood, Deutsche Bank said Thursday in an e-mailed statement. She’ll report to Paul Stefanick, head of investment banking coverage and advisory.
Financial mergers and acquisitions rose this quarter to the highest volume in eight years, according to data compiled by Bloomberg. Frankfurt-based Deutsche Bank is the eighth-ranked adviser on deals involving financial companies this year, while Goldman Sachs is first, the data show.
Guth spent 29 years at New York-based Goldman Sachs and in 2002 was named a partner, the firm’s highest rank. She became head of FIG in the Americas the next year, a position she held until 2012. She advised many large insurance companies, according to a Goldman Sachs memo announcing her departure.
Guth has a bachelors degree in economics and computer science from City University of New York and an MBA from Harvard Business School, according to the statement.