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(Deutsche Bank says it has changed the reporting lines of EvansHaji-Touma and Ashok Pandit referred to in last paragraph buthas corrected an earlier statement that said they have beenpromoted to global co-heads of sovereign wealth funds, pensionfunds and family offices)
* Makes series of internal promotions in business revamp
* Needs to offset declining IB fees, down 30 pct globally
* Changes within corporate finance, maritime and other units
By Pamela Barbaglia and Sophie Sassard
LONDON, Oct 11 (Reuters) - Deutsche Bank promoteda group of its senior investment bankers on Tuesday, part of aninternal reshuffle as it tries to boost its flagging performancein corporate mergers and acquisitions and capital markets.
The German bank, threatened with a multi-billion-dollar finefrom U.S. regulators, saw its global investment banking feesfall nearly 30 percent to $2 billion in the first nine months ofthe year, slipping behind its nearest European rival Barclays to seventh position in the investment banking leaguetables, according to Thomson Reuters data.
But Alasdair Warren, the bank's head of corporate andinvestment banking for Europe, Middle East and Africa (EMEA)told Reuters he's confident the German lender can recover somelost ground over the next 12 months, particularly in equitycapital markets (ECM), and he is making a series of changes tothe investment bank's structure.
"We're confident that we can rise back up in the ECM leaguetables," said Warren, a former co-head of the global privateequity advisory business at Goldman Sachs, who joined Deutschein May this year.
Deutsche Bank has seen fees from global equity products takethe biggest hit in the first nine months of the year with a 45percent decline to $328 million. In the same period its globalM&A fees went down 31 percent while fees attached to globalloans and bonds slipped 36 percent and 14 percent, respectively.
The bank's share price has almost halved this year,prompting speculation that it could lose some of its top investment bankers.
Last week its global co-head of real estate, gaming andlodging Massimo Saletti left to join JPMorgan while on Tuesdaysources with direct knowledge of the matter said its AsiaPacific wealth management head Ravi Raju is moving to UBS.
But Warren has promised to reward those in his division whostay at the bank with "career opportunities" despite having alimited budget for expensive rainmakers.
He is trying to shift the investment banking business tofocus more on providing clients with long-term advisory servicesin dealmaking.
"Previously, there was a greater focus on markets andfinancing-related products, whereas we're now focusing onbuilding long-term strategic dialogue and relationships, andrefocusing our client coverage," he said.
He announced a series of changes to staff on Tuesdayincluding promoting Bob Douglas to head its EMEA consumer andretail corporate finance team, where he has been working for thelast decade. Douglas will continue to report to Scott Bell,global co-head of consumer, who has been given an additionalrole as the head of UK and Ireland corporate finance.
In Britain Charles Wilkinson, co-head of UK corporatebroking, becomes chairman of the division, while Matt Hallsucceeds Wilkinson as co-head of UK corporate broking alongsideAndrew Tusa.
These appointments are aimed at revamping Deutsche's UKbusiness with some bankers, including Bell and Tusa, alsojoining a new leadership group for UK corporate and investmentbanking.
"PEOPLE AGENDA"
Meanwhile Warren has tried to address gaps in Deutsche'sdealmaking capacity across Europe. For example the bank had noone based in its home country to look after the industrialssector, the biggest source of deals in Germany.
"We have great product capability and geographical coveragebut we need to add resources to some of our sector coverageteams," he said.
"Most of what we are doing will be driven by our existingpeople, but we will make a few external hires to add to ourcoverage in certain sectors," he added.
So far this year the bank has failed to rank among the topthree advisors for the biggest announced deals in each industry,according to Thomson Reuters data, and was unable to adviseBayer on its $66 billion takeover of Monsanto, the biggest deal ever clinched by a German buyer,having pledged loyalty to a rival suitor.
Warren said he has a "people agenda" and while pay remainsimportant he will also use "career opportunities" to motivatestaff.
"In order to attract and retain talent, you can't simplyfocus on compensation," he said.
"We have a 'people agenda' and it's all about offeringpeople the opportunity to grow and develop as professionals. Weevaluate their performance twice a year and monitor theirprogress."
EFFICIENCIES
Among other changes aimed at streamlining the business,Warren has decided to merge the bank's maritime industriesbusiness into the global industrials group within corporatefinance, appointing Craig Fuehrer as global head of maritimeindustries in addition to his role as head of transportationindustries across the Americas.
At the same time Michael Zolotas becomes head of maritimeindustries across EMEA, while Peter Illingworth continues in hisrole as head of maritime industries in Asia Pacific. KlausStoltenberg becomes chairman of the global shipping business,having hitherto been global head of the same unit.
Deutsche Bank is also seeking to develop more cooperationamong its funds teams, replicating a similar structure to thatimplemented by Goldman Sachs and JPMorgan where private equityteams work alongside those focusing on sovereign wealth funds,pension funds and family offices.
As a result two managing directors focusing on sovereignwealth funds and pension funds, Evans Haji-Touma in London andAshok Pandit in Hong Kong, will report to Mike Walsh and AdamBagshaw globally, who act as co-heads of private equity acrossthe world, and to Alasdair Warren and James McMurdo regionally. (Editing by Greg Mahlich)
