Deutsche Bank is deploying top executives, as well as billions of dollars, as it seeks to win more business with Wall Street’s most active dealmakers.
Bloomberg News reports that CEO Christian Sewing and other senior managers at the bank have fanned out in recent weeks to meet leaders of big U.S. private equity firms, looking to strengthen relationships and drum up mandates for financing buyouts, according to people with knowledge of the strategy. The charm offensive follows a decision by the bank this year to make more money available for non-investment-grade debt -- dedicating roughly $16 billion of its balance sheet to the effort, up from about $12 billion previously, one person said.
“It’s a piece that does fit as part of our strengths within the Americas, we’re not going to hide from that,” said Mark Fedorcik, co-president of the investment-banking business, who declined to comment on the balance-sheet commitment. “We have strong relationships historically with private equity.”
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