The good news is that Nicholas de Vibe, the technology media and telecommunications (TMT) team associate who left Deutsche Bank last month hasn't gone to another bank. The bad news is that de Vibe has got himself the sort of job (on the buy-side) that might make all Deutsche's other TMT associates wonder whether they ought to be leaving too.
As we reported last month, the exit of several associates from Deutsche's seemingly demoralized investment banking division has had a few people in a state of minor anxiety. Is this a sign that the German bank is now crumbling from the bottom up? Well, not exactly, but it doesn't help when the AWOL associates turn up doing something more exciting instead.
De Vibe seems to have found himself the sort of job that would have any ambitious associate in a state of excitement. - He's resurfaced at Axa Venture Partners, the $275 million venture capital and growth equity fund run by Axa, where he'll be focusing on later-stage venture investments in finfech, enterprise/software as a service (SaaS), digital health and consumer technologies. It's the kind of job most TMT associates in investment banks would aspire to. His ex-Deutsche Bank colleagues have undoubtedly taken note.
Fortunately for DB, Axa Ventures doesn't seem to be a big hirer of investment banking talent, so other members of its TMT team are unlikely to follow de Vibe there. This doesn't mean they won't be tempted by rival banks though. - Recruiters in London say the market for junior investment bankers is hotter now than it's been for a long time.
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