Deutsche Bank hires Credit Suisse ECM banker Stephane Gruffat

Stephane Gruffat has joined Deutsche Bank has as co-head of equity capital markets business in Europe.

In his new role, Gruffat bank’s will oversee the equity capital markets for Europe, Middle East and Africa. He will report the bank’s co-head of capital markets and European investment banking, Henrik Johnsson.

Reuters reported that Gruffat spent more than two decades at Swiss lender before German financial services provider Deutsche Bank recruited him.

Most recently, the financial veteran led the equity capital markets syndicate at Credit Suisse. His career move follows other recent departures from the company. It was reported last week that another veteran of 21 years left the Swiss Bank. Didier Denat departed to join Citi to lead the alternative assets franchise in EMEA.

Deutsche Bank hires Credit Suisse ECM banker Stephane Gruffat

Credit Suisse recently posted net loss of CHF 252 million in Q1 2021. The numbers reflected a significant charge in relation to the US-based hedge fund matter. The company descended into crisis after the collapse of US investment firm Archegos and suspending funds linked to the fallen British supply chain finance company Greensill Capital, reported Reuters.

In turn, Deutsche Bank reported its highest profit in seven years for the first quarter of the year. The growth was largely driven by its investment bank, benefitting from the boom in listing SPACs.

Last month, Deutsche Bank, moved its worldwide FX pricing engine designed for breakthrough markets, from London to Singapore. This followed a large-scale rise in Asian trading activities.

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