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Deutsche Bank spotted buying Nomura MDs before bonuses

Nomura is a late payer when it comes to announcing and paying bonuses. While American banks go in January and Europeans go in February, Nomura lags with payments in late May. If people are going to leave Nomura, later this month is therefore the time that they'll go.

Not everyone is waiting at Nomura until bonuses are paid. Deutsche Bank recently announced internally that's hired Slavko Andrejevic, a managing director from Nomura's financial sponsor coverage group. Andrejevic is joining the London office as an MD, reporting to Tim Wiedelmann, head of financial sponsors at Deutsche.

Deutsche Bank and Andrejevic declined to comment on the move. Deutsche's financial sponsors team is one of its strongest: although the German bank ranked outside the top ten in Europe for M&A deals in the first quarter of 2022, it ranked fourth in EMEA for financial sponsors and third in European leveraged finance. Andrejevic's arrival suggests Deutsche is keen to build out the business further. He's likely to be at home at DB: prior to Nomura, Andrejevic worked at Barclays for seven years; in January this year, Deutsche hired Derek Shakespeare, chairman of UK M&A at Barclays as its own EMEA M&A chairman.

Andrejevic, who was presumably bought out by Deutsche, looks like something of a catch for the German bank. He has 17 years' experience in total, and is understood to work closely with French clients, having begun his career in France.

While Deutsche continues to add managing directors in the UK, Nomura's business is likely to lose further people after bonuses. Headhunters say there's turbulence there after Jeff McDermott was appointed global head of investment banking in October last year. "It appears to have put people's noses out of joint," observes the head of one search firm. "All is not happy at the good ship Nomura."

The flow at Deutsche isn't entirely one way. James Ibbotson left for Citi last October. Bob Douglas left for Bank of America in April. 

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AUTHORSarah Butcher Global Editor

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