Deutsche taps ex-Barclays banker for insurance unit: memo

NEW YORK Wed Oct 23, 2013 12:16pm EDT

Men walk past a logo of Deutsche Bank AG in Tokyo September 9, 2013. REUTERS/Toru Hanai

Men walk past a logo of Deutsche Bank AG in Tokyo September 9, 2013.

Credit: Reuters/Toru Hanai

NEW YORK (Reuters) - Deutsche Bank (DBKGn.DE) has tapped a former Barclays Plc (BARC.L) financial services banker to be co-head of its global insurance group, according to an internal memo sent to employees.

Gary Antenberg, who was most recently the head of Americas Insurance at Barclays, has joined Deutsche Bank as managing director and co-head of global insurance in the financial institutions group, according to the memo sent on Tuesday and reviewed by Reuters. He is based in New York.

Bill Nichol, based in Hong Kong, will co-head the global insurance group with Antenberg, in addition to his current responsibilities as head of Asia Pacific financials investment banking coverage, according to the memo.

In addition, Stephen Fromm, head of Deutsche's Americas Insurance unit, will become vice chairman of financial services investment banking coverage, according to the memo.

Antenberg, Nichol and Fromm report to Tadhig Flood and Richard Gibb, co-heads of the global financial institutions group.

Deutsche Bank worked with French insurer Scor (SCOR.PA) in its $910 million acquisition of Assicurazioni Generali's (GASI.MI) U.S. life reinsurance business earlier this year.

The bank also represented Athene Holding Ltd in its $2.6 billion purchase of British insurer Aviva Plc's (AV.L) U.S. annuity and life insurance operations, which also closed this year.

(Reporting by Jessica Toonkel; Editing by Tim Dobbyn and Jeffrey Benkoe)

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