Boston, MA 05/27/2014 (wallstreetpr) – As if to confirm its vow to remain among the top-five investment banks in the world, Deutsche Bank AG (USA) (NYSE:DB) just moved to hire a senior European figure from Morgan Stanley (NYSE:MS).
The bank has hired Chris Yoshida to head its global rates sales. Mr. Yoshida spent 11 years with Morgan Stanley where he most recently headed the interest rates distribution for the Europe, Middle East and Africa regions. He will join Deutsche Bank’s New York offices.
According to Deutsche Bank AG (USA) (NYSE:DB), Mr. Yoshida is highly experienced in matters global rates products. His extensive client relationship will also help the bank to meet and possibly exceed the needs of its clients in the rates business segment.
The recent shareholder meeting brought to the fore the fatigue that shareholder in Deutsche Bank AG (USA) (NYSE:DB) are experiencing over the bank’s almost endless legal problems and somehow unpopular decisions.
For example, the fact that the bank is facing up to 1,000 lawsuits and 180 regulatory proceedings against it does not come as good news to the shareholders. Besides the high number of legal issues, there are uncertainties over the possible financial impact such cases might have in the bank’s balance sheet or even how long it will take to get over the problems.
No cause for alarm
However, according to Deutsche Bank AG (USA) (NYSE:DB), shareholders can take their cool because the bank will successfully navigate its way out of the problems and deliver the value that investors are seeking. On that note, the bank intends to raise about $11 billion to increase its investment in fixed income.
The move to boost the position in fixed income business comes even as some investment banks recoil from the market because of the declining opportunities and high risks. However, for Deutsche Bank AG (USA) (NYSE:DB), the fact that its rivals are recoiling from the segment provides it with an opportunity to expand in the segment, and that will support its dream of remaining a top player among the global investment banks.