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Deutsche Bank Stops Sponsoring H.K. IPOs on Staffing Lapse

  • German lender failed to keep principals in place to sponsor
  • Deutsche Bank is rebuilding its equities desk after 2019 exit
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Photographer: Kyle Lam/Bloomberg
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Deutsche Bank AG will be unable to sponsor initial public offerings in Hong Kong as the German lender failed to replace the staff needed by regulators in one of the world’s biggest markets for share sales.

The bank has hired replacements who will start in a matter of weeks and will be able to resume its sponsor roles when the principals are on board, a Hong Kong-based spokeswoman said. The news was earlier reported by the Financial Times.