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(Bloomberg) Deutsche Bank AG expects trading revenue to decline by as much as a fifth this quarter, the first major European investment bank to warn of a significant slowdown.Most Read from BloombergBiggest Losers of AI Boom Are Knowledge Workers, McKinsey SaysNYC’s Rent Surge Defied by New Grads Pursuing a TikTok LifestyleElizabeth Holmes Objects to $250-a-Month Victim Payments After PrisonTrump Urges Prosecutors to Drop Case, Offers Defense PreviewPowell Says Nearly All Officials Expect ‘So
(Bloomberg) Deutsche Bank AG hired Credit Suisse Group AG’s head of mergers and acquisitions for Southeast Asia, according to people with knowledge of the matter, as rival banks pounce on top talent from the embattled Swiss lender. Lim Zi-Kuan will become the German bank’s co-head of M&A for Asia, the people said, asking not to be named as the matter is private. Lim resigned from Credit Suisse recently and is expected to join Deutsche Bank in the next few months, one of the people said. Spokespeople for both lenders declined to comment. The first emergency sale of a major bank since the financial crisis is presenting rivals the chance to scoop up key personnel or businesses that might otherwise not have been on offer. Deutsche Bank sees room to expand its deals business in Asia and is looking to hire selectively, the lender’s regional head of investment banking said in November. Lim, a Singapore-based managing director, has been at Credit Suisse for more than 20 years and also
Deutsche Bank AG fell by the most in three years and the cost of insuring its debt against default rose, in a selloff that Citigroup Inc. analysts described as irrational.