Moves: Deutsche Bank hires Nomura's FIG Australia head Nosek for second innings
11/02/2021 06:16
By Paulina Duran
SYDNEY, Feb 11 (Reuters) - Deutsche Bank DBKGn.DE said on
Thursday it had hired Martin Nosek, Nomura Holdings Inc's
8604.T financial institutions advisory head in Australia, in
his second innings with the German lender.
Nosek, who had worked at Deutsche Bank from 2005 to 2019 in
London and Australia, will be responsible for "driving the
coverage of Financial Institutions in Australia", the bank said
in a statement.
Representatives for Nomura, where according to Deutsche
Nosek co-led the FIG group in Asia Pacific, did not immediately
respond to a Reuters request for comment.
In 2018, Deutsche Bank closed its equities business and
trimmed its advisory division in Australia, as it tried to
become less reliant on its investment bank in an effort to
stabilise its business. [https://reut.rs/2MLWM5T] urn:newsml:reuters.com:*:nL8N2KA182
It, however, has remained active in the country.
"We look forward to having Martin back at the bank," said
Mayooran Elalingam, head of investment banking coverage and
advisory in Asia Pacific.
"Australia has always been and will continue to be a key
market for our Origination & Advisory offering in Asia Pacific,
with many of our largest transactions in the region involving an
Australia element."
Recent roles in Australia include advising on a A$15 billion
($11.61 billion) merger between a unit of Britain's Vodafone
Group VOD.L and internet provider TPG Telecom TPG.AX , and
Heineken Inv's HEIN.AS acquisition of selected Australian beer
and cider brands from Asahi Co. 3333.T , it said.
Last year, M&A advisory revenue in Australia halved to $1.24
billion, according to Refinitiv data, as activity plummeted with
the COVID-19 pandemic hurting investor confidence.
However, a rebound is expected in 2021, driven by a global
economic recovery, ultra-low interest rates and quantitative
easing from central banks.
($1 = 1.2925 Australian dollars)
(Reporting by Paulina Duran in Sydney; Editing by)
((paulina.duran@thomsonreuters.com; +61 2 9171 7406; Reuters
Messaging: paulina.duran.thomsonreuters.com@reuters.net))