Discover your dream Career
For Recruiters

Deutsche Bank made an unexpected equities hire from Citi

It's often said that Deutsche Bank no longer has an equities business. This, however, is wrong. Deutsche Bank does have an equities business, but it's tiny and is focused around some equity capital markets (ECM) bankers who generated the merest €21m of revenues in the first quarter and who require support from research and salespeople for their primary offerings.

They will soon be joined in London by some newly enriched people from Numis, but in the meantime there are signs that Deutsche is also doing some external hiring for its rumpish equities team.

The latest example of this is Steffen Schmidtke, a Frankfurt based equities sales guy who's spent his 15-year career at Credit Suisse, Merrill Lynch and Citi and who has decided that this is the moment to join DB in research sales.  

Schmidtke's arrival follows that of former Goldman and Unicredit banker Rico Pedrett, who joined as head of equity linked sales for Germany and Italy in January.

Together with the Numis acquisition, the external hires might be taken as signs that Deutsche is feeling more friendly towards equities professionals, even though the German bank has stated explicitly that it has no intention of going back into the equities business. 

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for jobs in technology and finance. 

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.