2 Deutsche Bank Asia vet­er­ans set to de­part

The Pak Banker - - FRONT PAGE -

ZURICH: Deutsche Bank AG is set to lose two of its most se­nior in­vest­ment bankers in Asia as Bill Ni­chol and Joaquin Ro­driguez Tor­res plan to de­part this year, peo­ple fa­mil­iar with the mat­ter said. Ni­chol, who runs in­vest­ment bank­ing for fi­nan­cial in­sti­tu­tions in the Asia-Pa­cific re­gion, plans to leave in May af­ter more than 13 years with Deutsche Bank, the peo­ple said, ask­ing not to be iden­ti­fied be­cause the in­for­ma­tion is pri­vate. He's in talks to join a closely held fi­nan­cial com­pany in a se­nior Asian role, one of the peo­ple said with­out pro­vid­ing de­tails.

Tan Boon-Kee, Deutsche Bank's Sin­ga­pore-based head of client cov­er­age for South­east Asia, is poised to re­place Ni­chol, the peo­ple said. She is ex­pected to re­tain her South­east Asian re­spon­si­bil­i­ties in the new role, they added.

Ro­driguez Tor­res, who joined Deutsche Bank a decade ago and is re­gional head of tech­nol­ogy, me­dia and tele­com in­vest­ment bank­ing, is in dis­cus­sions to leave the firm and is con­sid­er­ing set­ting up his own fund, the peo­ple said. Both bankers are based in Hong Kong and worked at Lehman Brothers Inc. be­fore join­ing the Ger­man lender.

Amy Chang, a spokes­woman at Deutsche Bank, de­clined to com­ment. Ni­chol, 49, and Ro­driguez Tor­res, 44, would join an ex­o­dus of se­nior bankers from an in­dus­try weighted down by stricter reg­u­la­tory scru­tiny of deals, in­ten­si­fy­ing com­pe­ti­tion from lo­cal banks and shrink­ing prof­its that have trig­gered bonus cuts. Deutsche Bank Chief Ex­ec­u­tive Of­fi­cer John Cryan plans to slash the bank's bonus pool by about 15 per­cent, Han­dels­blatt re­ported this week.

Henry Cai, Deutsche Bank's for­mer Asia-Pa­cific chair­man of cor­po­rate fi­nance, left about a year ago and is now run­ning a pri­vate eq­uity fund. Dou­glas Mor­ton, for­mer co-head of cor­po­rate fi­nance in Asia, left the bank in De­cem­ber, a per­son with knowl­edge of the mat­ter said. Bhupin­der Singh, who was co­head of Asia-Pa­cific cor­po­rate bank­ing and se­cu­ri­ties, also left the bank last year. Ro­driguez Tor­res joined Deutsche Bank in 2006 and was part of the team that worked on the $25 bil­lion ini­tial pub­lic of­fer­ing by Alibaba Group Hold­ing Ltd. in 2014. The record-break­ing IPO paid about $300 mil­lion of fees to all the banks and bro­ker­ages in­volved, ac­cord­ing to a fil­ing from the com­pany that year.

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