by Anirban Sen
NEW YORK (Reuters) – Drew Goldman, global head of Deutsche Bank’s investment banking division, will step down and be replaced by regional heads, according to a memo seen by Reuters on Monday.
Drew Goldman, who has held numerous senior roles in his 22 years at the German lender, says he wants to pursue opportunities outside of the investment banking business, according to the memo written by the co-manager. of the investment banking unit, Mark Fedorcik.
Bruce Evans, global co-head of mergers and acquisitions (M&A), will now oversee US investment banking coverage and advisory at Deutsche Bank. With 15 years’ experience at Deutsche Bank, he was promoted to joint head of mergers and acquisitions last year.
Henrik Johnsson and Berthold Fuerst will be responsible for investment banking coverage and advisory in Europe, while Mayooran Elalingam will lead the unit in Asia.
The contents of the memo were confirmed by a Deutsche Bank spokesperson.
This reorganization comes against a backdrop of a global decline in volumes of investment banking activities, which have been hard hit by general market volatility. In its latest quarter, Deutsche Bank – like its US rivals – suffered from a slowdown in transactions amid rising interest rates and uncertainty fueled by Russia’s invasion of Ukraine.
Drew Goldman had been in the role since 2019 and previously helped build Deutsche Bank’s global investment banking businesses in real estate, gaming, real estate and leisure. He served as an advisor on several notable transactions, including the acquisition of Starwood Hotels and Resorts Worldwide by Marriott International in 2016.
Prior to joining the real estate investment banking division in 1999, Drew Goldman held roles at luxury hotel manager Kerzner International, BNP Paribas and Bear Stearns & Co.
(Report Anirban Sen; French version Charlotte Lavin, edited by Kate Entringer)
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