Deutsche Bank Gives Frowein, Fuerst New Roles in Latest Shake-Upby
Frowein, Fuerst named co-heads corporate finance for Germany
Sheppard to do industrials; Arculus, Laux also get new posts
Deutsche Bank AG named Patrick Frowein and Berthold Fuerst co-heads of corporate finance for Germany, Austria and Switzerland in the latest shake-up at Europe’s biggest investment bank.
Frowein, most recently co-head of global industrials, and Fuerst, the co-head of mergers and acquisitions in Europe, the Middle East and Africa, will focus on providing investment banking products and advice to clients in German-speaking countries, according to an e-mailed statement from the Frankfurt-based lender.
Richard Sheppard will take over as global co-head of industrials in corporate finance, according to an internal memo seen by Bloomberg News and confirmed by a spokesman. He and Fuerst had been named co-heads for EMEA M&A in November. Thomas Piquemal, who was hired as the head of global M&A from French utility Electricite de France SA in May, will maintain his current position and assume responsibility for European deals as well.
In addition, James Arculus will become head of U.K. M&A and Carsten Laux was named head of German deals, according to a memo.
Deutsche Bank is seeking to expand its business advising on deals and running share sales as part of a plan to trim its focus on capital-intensive debt trading. Chief Executive Officer John Cryan reshuffled top management with his strategic overhaul in October and split the securities unit into a trading division and a business, run by Jeff Urwin, advising clients on the sale of stock and bonds as well as mergers.
Since Urwin took over, the bank has hired and cut ties from several top bankers. The German lender named Piquemal to run M&A, almost a year after his predecessor, Henrik Aslaksen, left the company. The bank also previously named Alasdair Warren from Goldman Sachs Group Inc. as head of corporate and investment banking in EMEA.
Deutsche Bank’s head of natural resources M&A, Cathal Deasy, left this month to become head of M&A in EMEA at Credit Suisse Group AG, which previously hired Aslaksen as well.