Deutsche Bank’s Henry Cai Said to Plan Retirement in February

Deutsche Bank AG’s Henry Cai, one of the firm’s top corporate finance bankers in Asia, is preparing to step down in February, according to two people with knowledge of the matter.

Cai, who will turn 60 next month, is still in negotiations with the bank over the terms of his departure, said one of the people, who asked not to be identified because no final decision has been made.

He would be the most senior Chinese veteran in recent years to leave Deutsche Bank Asian business, where investment-banking revenue is shrinking and more than a dozen bankers have left this year.

Cai was recruited to Deutsche Bank in July 2010 by Robert Rankin, then CEO of the bank’s Asia-Pacific operations and a former colleague of his at UBS AG. Rankin will step down as co-head of Deutsche Bank’s corporate banking and securities operation in January.

Cai may join China Minsheng Investment Corp., the nation’s biggest private investment firm, two people said. The company has approached Cai to discuss overseas expansion, according to an official at Minsheng Investment who said he was unaware of plans to hire him. He declined to comment further.

Michael West, a Hong Kong spokesman at Deutsche Bank, declined to comment. IFR reported Cai’s departure today.

Minsheng Investment is the first national privately-owned investment company focusing on private equity and asset management. It also targets mergers and acquisitions in the financial industry and plans to establish China’s 5th-largest power energy company to provide clean energy, Dong Wenbiao, chairman of Minsheng Investment, said at a forum in Shanghai in September.

Minsheng Investment plans to open an office in London and invest $1.5 billion in industries including financial services, offshore engineering, new energy and environmental protection, Prime Minister David Cameron’s office said in a June statement.

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