Deutsche Bank is counting on an aggressive hiring spree that has added more than 100 investment bankers in the past 18 months to start powering revenues and cut its reliance on bond trading.
Since the start of 2023, Germany’s largest lender has recruited 125 investment bankers, including from Credit Suisse, with 75 joining at managing director or director level. Deutsche’s purchase of UK broker Numis, completed in October, brought in a further 300 staff.
The decision to swell the ranks of its investment bankers marks a reversal of Deutsche’s strategy since the financial crisis, a period during which the bank largely scaled back the business to save costs and grew other parts of the lender.