Deutsche Bank hires top Credit Suisse ECM banker Gruffat
LONDON -Deutsche Bank has hired Credit Suisse’s Stephane Gruffat as co-head of equity capital markets for the Europe, Middle East and Africa region, according to an internal memo seen by Reuters.
Gruffat was head of the equity capital markets syndicate at
Credit Suisse for the EMEA region, and had been at the Swiss bank for more than
20 years.
At Deutsche Bank, he will also be head of ECM syndicate for
the EMEA region, and will report to Henrik Johnsson, the German lender’s
co-head of capital markets and European investment banking.
Deutsche Bank recently posted its highest profit in seven
year for the first quarter, driven by its investment bank that benefited from
the boom in listing special purpose acquisition companies (SPACs).
Credit Suisse, meanwhile, has been plunged into crisis after
losing more than $5 billion from the collapse of U.S. investment firm Archegos
and suspending funds linked to collapsed British supply chain finance company
Greensill Capital.
Gruffat has helped manage several high-profile stock market
fundraisings in Europe including the listing of Allfunds earlier this year.
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