(30 June 2010 – Australia) Bank of America Merrill Lynch has lost two of its analysts to Deutsche Bank, as investment banks continue to poach from their rivals.Deutsche Bank announced internally that Kieren Chidgey and Sheryas Patel would be joining the investment bank’s diversified financial services research team.
Mr Chidgey has been appointed director and is returning to Deutsche Bank after three years at Merrill Lynch, where he was the investment bank’s lead analyst.
Mr Patel, who is understood to still be with Merrill Lynch but has resigned from his position as associate equity research analyst at the bank, has been hired by Deutsche Bank as vice-president.
The pair joins James Freeman and recent recruits Andrew Triggs and James Wang.
Head of global markets Michael Ormaechea told The Australian that the hiring completes the build out of its financial research team – an important plank in its strategy to be a top three investment bank.
Deutsche Bank is confident that these appointments and the considerable experience the new team brings, will provide its clients with valuable intelligence and insight into this important sector, Mr Ormaechea said.