LONDON, June 15 (IFR) - Deutsche Bank is setting up a global
capital markets unit within its corporate and investment bank to
house both its equity capital markets and debt capital markets
businesses as well its hedging services.
The new unit will be led by co-heads Alexander von zur
Muhlen and Mark Fedorcik, based in Frankfurt and New York,
respectively. Fedorcik will in addition continue as head of
corporate finance Americas and co-head of CIB Americas.
Both will report to Garth Ritchie and Marcus Schenck,
co-heads of CIB, who were appointed to head up the new division
ECM veteran Mark Hantho has been made chairman of GCM,
focusing on client coverage and large transactions.
“From one unit, GCM will offer clients access to the bank’s
expertise in financing and risk management solutions,” said
Ritchie and Schenck in a memo sent to CIB staff and seen by IFR.
The memo said Hantho would “help us to form a key client
coverage group for corporates in the coming weeks”.
GCM will be run as a joint venture with the bank’s existing
corporate finance, equities and fixed income and currencies
businesses. It will also work closely with the institutional
The latter will be co-headed globally by Kenan Altunis and
Stefan Hoops. They will report to Ritchie and Schenck. Hoops
will keep his current role as head of equities and fixed income
and currencies in Germany.
Within corporate finance, Deutsche said it wanted to create
“global industry groups principally co-led from our hubs in
Europe, the US and Asia Pacific, which will work in partnership
with the country coverage teams that maintain strong local
The unit will be run globally by existing regional heads
Fedorcik in the Americas, James McMurdo in Asia Pacific and
Alasdair Warren across Europe, Middle East and Africa.
Each region will also have a head of corporate banking
coverage: Niels Ackerman for EMEA; Stefan James in the Americas,
and a yet-to-be-appointed person in Asia Pacific.
Chris Whitman, a former treasurer of the bank as well as
senior capital markets banker, will be head of financial
This unit would “be responsible for allocating the bank’s
balance sheet to CIB businesses according to client selection
decisions and market opportunities,” the memo said.
Schenck and Ritchie said it would “ensure that we allocate
capital efficiently, across both the banking and trading books”.
(Reporting by Christopher Spink; Editing by Steve Slater)