Deutsche Bank has appointed Tiina Lee as head of European financial institutions capital origination. It is a new role at the bank that combines capital origination for debt and equity capital markets.
The rationale is to take the bank’s alignment of the capital markets businesses in debt and equity to the next level, says Deutsche Bank. The present crisis, with banks, especially, in dire need of capital makes this type of approach from intermediaries increasingly important.
Although banks and securities firms have raised some $350 billion of capital over the past 12 months, they have also announced write-downs of $500 billion – according to Bloomberg. It is expected that treasurers will try to close this gap. And given that various bodies estimate credit-related losses will be larger still – $945 billion according to the IMF – dealers’ impetus to have an aligned structure that ensures clients are not given discordant advice is strong.
Lee has run DCM FIG for northern Europe at Deutsche Bank since 2001. She now reports jointly to Miles Millard and Sam Dean, heads of European DCM and ECM respectively.