Deustche Bank Asia Hemorrhaging Pitch Book-Makers

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DB junior bankers are reportedly accepting opportunities elsewhere en-masse.

Deustche Bank lost about 26 junior bankers in Hong Kong over the past four months, the biggest number of such departures from the firm in Asia in at least five years, two people with knowledge of the matter said. The employees, including four directors and four vice presidents, began leaving voluntarily in late February after receiving their bonuses, the people said, asking not to be named because the matter is private. The departures came as Deutsche Bank added nine managing directors over the past 12 months in Asia, said Michael West, a Hong Kong-based spokesman...The departure of junior bankers would “greatly impact deal-pitching and deal-making capabilities,” said Alice Leguay, chief operating officer of London-based Emolument Ltd., which tracks bonuses and salaries for finance and legal professionals. “More senior bankers are already stretched and are unlikely to be able to pick up the slack” at most banks, she said.

Deutsche Bank Said to Lose 26 Junior Bankers in Asia This [Bloomberg]

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