Exclusive-Deutsche Bank's investment banking coverage chief to depart
Reuters
Published Jul 25, 2022 08:28AM ET
Updated Jul 25, 2022 11:27AM ET
By Anirban Sen
NEW YORK (Reuters) -Deutsche Bank's global investment banking coverage and advisory chief Drew Goldman will step down and be replaced by regional heads, according to a memo seen by Reuters on Monday.
Goldman, who has held numerous leadership roles during his 22-year tenure at the German lender, wants to pursue opportunities outside investment banking, according to the memo written by the co-head of the investment banking unit, Mark Fedorcik.
Goldman will join Abu Dhabi's sovereign wealth fund on October 3 as global head of real estate investments, according to a statement from the Abu Dhabi Investment Authority.
Global co-head of mergers & acquisitions (M&A) Bruce Evans will now oversee investment banking coverage and advisory for the Americas at Deutsche Bank (ETR:DBKGn). Evans, a 15-year veteran at Deutsche, was elevated to co-head of M&A last year.
Henrik Johnsson and Berthold Fuerst are responsible for running investment banking coverage and advisory in Europe, while Mayooran Elalingam leads the franchise in Asia.
The contents of the memo were confirmed by a Deutsche Bank spokesperson.
The leadership reorganization comes amid a decline in global dealmaking volumes, which have been hit hard by broader market volatility. In its most recent quarter, Deutsche - like its U.S. competitors - was hurt by a slowdown in dealmaking amid rising interest rates and uncertainty fueled by Russia's invasion of Ukraine.
Goldman has been in his current role since 2019 and previously helped build Deutsche Bank's global real estate, gaming, lodging and leisure investment banking businesses. He advised on several notable transactions, including Marriott International (NASDAQ:MAR) Inc's buyout of Starwood Hotels and Resorts Worldwide Inc in 2016.
Before joining Deutsche Bank in its real estate investment banking unit in 1999, Goldman held roles at luxury hotel manager Kerzner International, BNP Paribas (OTC:BNPQY), and Bear Stearns & Co.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.