September 7, 2018 / 7:56 PM / 9 months ago

Deutsche Bank names Shah head of U.S. technology banking

FILE PHOTO: The headquarters of Germany's Deutsche Bank is photographed early evening in Frankfurt, Germany, January 26, 2016. REUTERS/Kai Pfaffenbach/File Photo

(Reuters) - Deutsche Bank AG GDBKGn.DE has appointed veteran investment banker Ajay Shah to the newly created role of head of technology in the Americas, the German bank said in an internal memo on Friday that was seen by Reuters and confirmed by a spokesperson.

The appointment comes as Christian Sewing, who took over as Deutsche Bank’s chief executive officer, last April, seeks ways to boost the investment banking franchise while restructuring other businesses, such as equities and bond trading, and tries to help the bank bounce back from three consecutive years of losses.

Shah, a managing director, was previously Deutsche Bank’s head of communications and software infrastructure investment banking, and will continue to based in San Francisco. He joined the bank in 2006 from UBS Group AG (UBSG.S), and started his career at Credit Suisse AG (CSGN.S).

“Ajay has been instrumental to the success of the technology group having developed key relationships with industry leaders such as Cisco (CSCO.O), Hewlett Packard Enterprise Co (HPE.N) and CommScope (COMM.O) among others,” Deutsche Bank’s global co-heads of technology, media and telecom investment banking, Mark Keene and Gavin Deane, said in an internal memo.

Shah earlier this year advised industrial technology company Lumentum Holdings Inc (LITE.O) on its $1.8 billion acquisition of optical networking products maker Oclaro Inc OCLR.O. Last year, Shah advised networking company Ixia on its $1.6 billion sale to Keysight Technologies Inc (KEYS.N).

Reporting by Liana B. Baker in New York; Editing by Leslie Adler

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