Private financing and the crossover space between debt and equity is an increasingly attractive area of business for investment banks. Already a player in the sector, Deutsche Bank is making a renewed push for dominance in Asia with a significant hiring programme.
Under the leadership of Sajid Javid, head of global credit trading, Asia, who moved internally in January from London, the team has been building its capabilities aggressively in securitization, commodities trading, structured credit, distressed debt, and high-yield and investment-grade debt trading.
Now the hiring is rumoured to have stepped up a gear with the recruitment of a significant number of new personnel. Officials at Deutsche Bank refused to confirm exact numbers but insiders state that more than 30 new hires are in the process of arriving at Deutsche Bank’s offices in Asia –fewer than the 77 incorrectly reported in one press report – but significant nonetheless. The personnel were hired from several banks, including Calyon, Goldman Sachs and UBS, and the hiring progress marks a significant push by Deutsche Bank into the crossover financing space.
According to sources, Deutsche Bank has even formed an internal joint venture between the credit and equity structuring teams, the latter led by Colin Fan, head of global equities, Asia, to encourage sharing of ideas and deals between the two divisions as well as economics.