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Deutsche Bank to Recruit Rookies in Bid to Revive Equities Unit

  • Ex-Goldman Sachs partner Selman tapped to rebuild business
  • ‘We certainly have holes to fill and we’re hiring,’ he says
Bloomberg business news
Bloomberg’s Jason Kelly reports that Deutsche Bank is going to focus on recruiting students right out of college.(Source: Bloomberg)

Peter Selman, hired out of retirement by Deutsche Bank AG to turn around Wall Street’s worst-hit equities business, wants to tap universities rather than rivals to do so.

“We certainly have holes to fill and we’re hiring,” Selman, an ex-Goldman Sachs Group Inc. partner who joined the German lender in November, said in a phone interview. “But we’re going to focus a lot on graduate recruiting. I don’t think the path forward is one where we make a lot of very high-priced, expensive lateral hires.”