Deutsche Bank Hires Goldman Vet
Abe’s presence with DB will enhance its position in Japanese I-banking as other global banks are seeing a depletion in manpower.
December 29, 2008
Deutsche Bank will have Takushi Abe join its ranks as senior advisor to its investment banking businesses in Japan, according to reports.
Deutsche Bank, which has eliminated around five percent of its 1,000-head staff in Japan, made cuts from credit and trading businesses and securitization shops earlier this year.
Abe will join Deutsche Bank in Janurary 2009; he was previously a managing director with Goldman Sachs.
Deutsche Bank’s move to boost its presence in Japan at a time when other banks are scaling back their expectations of M&A mirrors that of Greenhill & Co., which in October made its first foray into the Japanese M&A market, picking up industry veterans from struggling, outsized bulge-bracket banks and opening a new office.
The listed bank's addition of former Morgan Stanley Japan chairman Kensuke Hotta and Hiroto Yamada, who previously worked as Merrill Lynch's head of Japanese M&A, immediately made Greenhill a player in the region, where it still seeks to add seasoned professionals, its chief executive Scott Bok told M&A Journal.
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