A rare example of growth in the gloom

In the latest sign of the reshaping of European banking, Deutsche Bank has transferred its real-estate investment banking team to Eurohypo, the property finance specialist created by merging its own mortgage bank subsidiary with those of Dresdner and Commerzbank. The idea is to link the wider bank’s lending with higher-margin advisory, structuring and capital markets work.

Leading the group are Neil Lawson-May and Paul Rivlin, both old Deutsche hands.