Paul Achleitner was often called the only investment banker in Germany. Now that the little Austrian is moving from Goldman Sachs to Allianz, does this mean the number has fallen to zero?
In fact, Achleitner becomes the "spider in the web" of corporate Germany that outgoing CFO Diethard Breipohl always protested he wasn't, and Achleitner may come to play an arachnid role in the consolidation of companies and financial institutions - Dresdner Bank springs to mind - throughout Europe.
In a parallel move, Deutsche Bank appears to have rid corporate Germany of its best strategic adviser, Klaus Droste of McKinsey, by hiring him, and two colleagues. Planners at several big German and Swiss companies and banks and will be weeping into their muesli wondering where all their bright ideas are going to come from now. Droste wasn't alone in identifying the black hole at Deutsche, in M&A and advisory business. Like the brave soldier ant he must then have felt honour-bound to fill it himself. David Shirreff