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| Ganesh Rajendra’s departure from Deutsche came as a shock |
European securitization research has lost many of its biggest names in recent months. News that Ganesh Rajendra and Markus Hermann have left Deutsche Bank and HSBC as heads of research, compounds the growing feeling that banks are scaling back their commitment to the business and to their investors. At Deutsche Bank the departure of the head of international ABS research, the highly regarded Rajendra, was a shock. Rajendra is a stalwart of the securitization research sector. He joined Deutsche in 2001 from Merrill Lynch at a time when the German bank was ramping up its business, having hired a high-profile team of bankers from Credit Suisse First Boston. Rajendra’s ABS team came top of the annual Euromoneyfixed-income research poll twice during the past five years and obtained a top three position in this period.
Deutsche Bank continues to publish research on international ABS as it has three analysts still on the desk. The same cannot be said of HSBC, which lost two analysts several months ago. In recent weeks, Citi has lost Birgit Specht.