Deutsche Bank poaches London dealmakers from Citigroup, BofA

DEUTSCHE Bank is poaching dealmakers from rivals including Citigroup and Bank of America as it pushes to rebuild its European mergers and acquisitions franchise. 

Robert Plowman will join Deutsche Bank next month as a managing director on the consumer team in London, according to an internal memo seen by Bloomberg. He previously worked on household and personal care deals as Citigroup’s co-head of consumer products investment banking for Europe, the Middle East and Africa. 

Plowman will report to Siddharth Malik, who starts at Deutsche Bank in London this week as global co-head of consumer and retail, according to the memo. Malik joins from Bank of America, where he specialised in beverage, tobacco and retail transactions.

Deutsche Bank is also bringing on top bankers from Credit Suisse Group, with William Mansfield set to join as vice chairman of EMEA M&A, according to the memo. Mansfield, who has a background in consumer and financial sponsors deals, was most recently Credit Suisse’s head of EMEA M&A. 

He’ll be joined by former Credit Suisse colleague Rumesh Rajendram, who will be a managing director on Deutsche Bank’s consumer and retail M&A team. Both bankers will join in July and be based in London, according to the memo.

A representative for Deutsche Bank confirmed the contents of the memo. BLOOMBERG