Deutsche Bank has lost one of its Frankfurt-based investment banking managing directors (MDs) to Morgan Stanley.
Tammo Buennemeyer, who only joined Deutsche Bank from Greenhill in May 2020 to "lead a leap into digitalization" and build the bank's technology and fintech investment banking activities, has escaped to Morgan Stanley according to his LinkedIn profile. He will be an MD at Morgan Stanley too, presumably in a similar sector.
Morgan Stanley was the top bank for M&A in Germany in the first half of 2022 according to Dealogic. Deutsche Bank, which wants to be the Hausbank for German clients, ranked eighth, down from sixth in 2021. This might explain Buennemeyer's motivation for moving.
Prior to Deutsche and Greenhill, Buennemeyer spent 11 years at JPMorgan. He worked in London between 2003 and 2010 but has spent the past 12 years in Frankfurt.
Morgan Stanley has been building its presence in Germany. In January, it rehired Sara Woerner from Goldman Sachs as head of equity execution content for the continent. Morgan Stanley's recently released annual report for Morgan Stanley SE (its Frankfurt-based entity) for 2021 showed an increase in headcount by area as follows:
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