If there’s never been a better time to work for Goldman Sachs, it seems like something of a strange career decision to ditch the U.S. bank for Deutsche Bank, which has its issues.
Deutsche Bank is still in the midst of a hiring freeze, implemented in October, but the occasional banker is still being brought in if the sector is hot enough.
David Ibáñez, who was an executive director in Goldman Sachs’ TMT investment banking team, has just signed up to Deutsche Bank.
He worked at Goldman Sachs for six years and joined after a 10-month stint at McKinsey where he was a management consultant. This was a short-lived foray into consulting – Ibáñez started out as an associate in J.P. Morgan’s TMT team and joined McKinsey briefly after completing an MBA at Chicago Booth.
Technology investment banking revenues are up 30% year on year to $6.6bn, according to Dealogic. Goldman Sachs also tops the M&A league tables in Europe, while Deutsche Bank has slipped to 10th for the first nine months of the year.
Deutsche Bank had some gaps to fill in TMT investment banking. Thomas Kratz, who was a director at Deutsche, moved to Mizuho in August to become head of European TMT investment banking.
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