Deutsche Bank appoints new head of Natural Resources M&A in EMEA
LONDON Feb 14 (Reuters) - Deustche Bank has appointed Cathal Deasy as head of mergers and acquisitions (M&A) for its Natural Resources Group in Europe, the Middle East and Africa (EMEA) following the departure of veteran dealmaker Nigel Robinson, a source familiar with the matter said on Thursday.
Deasy, who joined Deutsche in 2006, has taken a leading role advising companies including the world's third largest miner, Rio Tinto and Brazil's CBMM (Companhia Brasileira de Metalurgia e Mineração).
The Natural Resources Group covers the metals and mining, energy, utilities and chemicals sectors.
Deutsche Bank confirmed the appointment.
Since the end of 2011, Deutsche has reduced headcount by 2,777, in the midst of a restructuring drive designed to achieve annual cost savings of 4.5 billion euros by 2015.
At the end of January Deutsche reorganised its corporate finance management team, naming Henrik Aslaksen and Paul Stefanick as co-heads of global investment banking coverage and advisory, running the investment bank's industry and country coverage groups globally.
Deutsche ranked seventh globally in terms of M&A advisers in 2012, rising to third place in EMEA working on 142 deals worth $367 billion, with a 23.4 percent market share in the region, Thomson Reuters data calculates.
The energy and power sector was the most active globally and in EMEA in 2012, with 1,475 deals amounting to $198 billion in the region. The mining sector was also buoyed by Glencore's $33 billion bid for Xstrata.
Robinson, who joined Deutsche in 2007 from Goldman Sachs and whose close relationship with Xstrata landed Deutsche a role advising the mining firm on the Glencore deal, left the bank in January to join Hong Kong-based commodities trading company Noble Group.