Deutsche Bank's M&A bankers are supposed to be quite happy with their new set-up. After all, the new head of the investment bank, Mark Fedorcik, seems pretty powerful and there was no mention of jettisoning M&A teams in last week's restructuring announcements. Life should be fine. But people still seem to be leaving.
The latest exit is that of Alastair Blackman, a managing director and Deutsche's now-former head of media investment banking in Europe. Blackman is not listed as working for DB and appears to have left recently after joining from Credit Suisse in 2014.
Insiders say Blackman is off to Barclays, where he will presumably be head of media investment banking too - although neither Barclays nor Blackman responded to a query about this. As we noted yesterday, Barclays has a few issues of its own as insiders fret about bonus prospects this year, but Blackman was clearly of the opinion that these are inconsequential, comparatively speaking.
Blackman is not the only M&A mover in the London market. There's also Paul Kavanagh, a FIG banker who was at Barclays. Paul has left Barclays and gone to Goldman Sachs, where he's just arrived as a member of the London FIG team.
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