Deutsche Bank's head of UK M&A quit for Moelis & Co.
Earlier this week, boutique M&A firm Moelis & Co. said it's 'aggressively hiring.' One of the people it's aggressively hired is Chris Raff, Deutsche Bank's UK head of M&A.
Raff is understood to have resigned around a month ago, but his exit has gone unreported until now. He's currently on gardening leave and is expected to join Moelis & Co. next year.
Raff had worked at Deutsche Bank for 18 years after joining from Nottingham University, where he studied economics.
Deutsche Bank ranked outside the top 10 for UK M&A revenues in the first nine months of this year according to Dealogic. Year-on-year, however, its global M&A revenues were up 30% in the first nine months of the year - one of the best performances of any major bank.
Deutsche Bank made some cuts to its investment banking team last month, but Raff left of his own accord and was not among them. In late October, Henrik Johnsson, co-head of Capital Markets and European Investment Banking, said DB has used this year to add coverage bankers and that it will continue to hire in 2023 in preparation for the next boom, which may be in three or four years' time.
Raff isn't the only major M&A exit from DB in London. In October, Oliver Shepherd, head of the European M&A team, went to JPMorgan.
Deutsche Bank declined to comment.
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