Deutsche Bank Hires Goldman’s Yusof Annuar as Malaysia HeadElffie Chew and Joyce Koh
Deutsche Bank AG recruited Yusof Annuar Yaacob, Goldman Sachs Group Inc.’s Malaysia chairman for corporate finance, to head operations in the country as the German lender builds its presence in Southeast Asia.
Yusof Annuar, 48, will work as chief country officer and head of Malaysian corporate banking and securities from Feb. 20, the Frankfurt-based company said in an e-mailed statement today. He will oversee development of business in the market, it said.
Deutsche Bank handled 208 million ringgit ($63 million) of equity-linked deals in Malaysia last year, ranking it sixth among foreign firms, according to data compiled by Bloomberg. The amount is about a quarter of second-placed Goldman Sachs’s share, the data show.
Yusof Annuar, a former chief financial officer at Malaysian mobile-phone company Axiata Group Bhd., joined Goldman Sachs in November 2010. The New York-based bank helped manage some of the country’s biggest initial share sales last year, including offerings by Westports Holdings Bhd. and UMW Oil & Gas Corp.
Goldman Sachs also made about $500 million arranging three bond sales for state-owned 1Malaysia Development Bhd., a person familiar with the matter said last May.
Yusof Annuar is the latest in several recent key appointments by Deutsche Bank in Southeast Asia over the past year as economic growth in the region outperforms that of developed nations.
It recruited Tan Boon-Kee, another former Goldman Sachs employee, as head of client coverage in the region. Phumchai Kambhato, a former country head of investment banking at UBS AG, joined as head of Thai corporate banking and finance. Philip Lee, a former head of Southeast Asia investment banking at JPMorgan Chase & Co., became the German bank’s vice chairman for Southeast Asia and Singapore head.