Deutsche deploys executives to attract Wall Street’s most active dealmakers
CEO Christian Sewing and other senior managers at the bank have fanned out in recent weeks
New York — Deutsche Bank is deploying top executives, as well as billions of dollars, as it seeks to win more business with Wall Street’s most active dealmakers. CEO Christian Sewing and other senior managers at the bank have fanned out in recent weeks to meet leaders of big US private equity firms, looking to strengthen relationships and drum up mandates for financing buyouts, according to people with knowledge of the strategy. The charm offensive follows a decision by the bank this year to make more money available for noninvestment-grade debt — dedicating roughly $16bn of its balance sheet to the effort, up from about $12bn previously, one person said. "It’s a piece that does fit as part of our strengths within the Americas, we’re not going to hide from that," said Mark Fedorcik, co-president of the investment-banking business, who declined to comment on the balance-sheet commitment. "We have strong relationships historically with private equity." Buyout firms amassed a record am...
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