Morgan Stanley German M&A Head to Leave After 20 Years
Tschoeke, 45, who has been with the firm for his entire career, will depart this year to pursue other interests, according to a spokeswoman for the bank, who asked not to be named in line with company policy. His tasks on the German management board will be assumed by existing members, she said.
Morgan Stanley was ranked No. 1 in German M&A last year after advising Deutsche Telekom AG (DTE) on the merger of its T-Mobile USA unit with MetroPCS Communications Inc. (PCS) as well as industrial gas-maker Linde AG (LIN)’s acquisition of Lincare. The bank is ranked No. 5 so far this year, according to data compiled by Bloomberg.
Tschoeke’s departure comes amid a shake-up of some of the top M&A bankers in Germany as first-quarter deal volume in Europe’s largest economy fell to the lowest level since the second quarter of 2012. Ken Oliver Fritz, the head of investment banking for Germany at Credit Suisse Group AG (CSGN), is leaving to become Lazard Ltd. (LAZ)’s co-head, Lazard said in an e-mailed statement today. He’s replacing Alexander Doll, who was hired by Barclays Plc (BARC) in August.
Tschoeke advised Putzmeister Holding AG, Germany’s largest cement-pump maker, when it agreed to be bought by Sany Heavy Industry Co. (600031) in 2002 in the biggest ever Chinese-German takeover at the time.
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