Deutsche Bank hires Nomura's FIG Australia head Nosek for second innings

SYDNEY: Deutsche Bank said on Thursday it had hired Martin Nosek, Nomura Holdings Inc's financial institutions advisory head in Australia, in his second innings with the German lender.

Nosek, who had worked at Deutsche Bank from 2005 to 2019 in London and Australia, will be responsible for "driving the coverage of Financial Institutions in Australia", the bank said in a statement.

Representatives for Nomura, where according to Deutsche Nosek co-led the FIG group in Asia Pacific, did not immediately respond to a Reuters request for comment.

In 2018, Deutsche Bank closed its equities business and trimmed its advisory division in Australia, as it tried to become less reliant on its investment bank in an effort to stabilise its business.

It, however, has remained active in the country.

"We look forward to having Martin back at the bank," said Mayooran Elalingam, head of investment banking coverage and advisory in Asia Pacific.

"Australia has always been and will continue to be a key market for our Origination & Advisory offering in Asia Pacific, with many of our largest transactions in the region involving an Australia element."

Recent roles in Australia include advising on a A$15 billion ($11.61 billion) merger between a unit of Britain's Vodafone Group and internet provider TPG Telecom, and Heineken Inv's acquisition of selected Australian beer and cider brands from Asahi Co., it said.

Last year, M&A advisory revenue in Australia halved to $1.24 billion, according to Refinitiv data, as activity plummeted with the COVID-19 pandemic hurting investor confidence.

However, a rebound is expected in 2021, driven by a global economic recovery, ultra-low interest rates and quantitative easing from central banks.