Macro Sales Head Jumps Ship to Deutsche
(26 June 2024 – Australia) Deutsche Bank has announced a new Head of Fixed Income and Currencies Macro Sales.
The AFR reports that Laura Fitzsimmons was lured from rival JPMorgan after heading up rate sales since 2019. Fitzsimmons is set to commence in the new role with Deutsche in August as DB continues to make its comeback in Australian M&A.
Despite recording 13 straight quarterly profits, winning share away from incumbent leaders will be a challenge for the German lender in Australia’s saturated advisory markets. Rivals JPMorgan, BofA and UBS leverage a broad suite of products to compete with locals majors Macquarie and Barrenjoey for M&A advisory fees.
“There are a lot of Australians at Deutsche Bank in roles across the world, sitting in Hong Kong, Singapore, New York and London – it’s a very well-connected business. That’s going to be our playbook – clients of cross-border nature and financial sponsors” Deutsche Bank Head of Investment Banking Coverage and Advisory for APAC, Mayooran Elalingam stated last year as DB scaled up its drive to poach dealmaking talent.
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