SINGAPORE/KUALA LUMPUR Jan 6 Deutsche Bank AG
has hired Goldman Sachs's Malaysia head of
corporate finance in a push to secure more business in one of
the region's more vibrant IPO markets, sources with knowledge of
the matter told Reuters.
Yusof Yaacob will become head of corporate banking and
securities for Deutsche Bank in Malaysia, one of the sources
said. He will also act as Deutsche's chief country officer for
Yusof, a former chief financial officer with Malaysian telco
Axiata, is the latest hire for big investment banks
looking to tap initial public offerings and corporate finance
deals in Southeast Asia as activity in the region heats up.
Goldman Sachs has been the most successful foreign
investment bank in Malaysia in the last two years, Thomson
Reuters league table data show. In 2013, the U.S. bank took a 21
percent market share in Malaysia's investment banking segment,
double that of its nearest rival.
Last year, Goldman Sachs earned hundreds of millions of
dollars from arranging debt offerings for a single Malaysian
client, state fund 1MDB, IFR reported. Goldman Sachs declined to
comment on the transaction.
Yusof is the second ex-Goldman banker to join Deutsche Bank
in Southeast Asia in recent months, after the German bank hired
Boon-Kee Tan as head of client coverage for the region last
In the same month Deutsche also poached UBS's veteran head
of investment banking in Thailand, Phumchai Kambhato.
Yusof, who has been with Goldman Sachs since 2010, resigned
a couple of weeks ago, a second source told Reuters.
Deutsche Bank and Goldman Sachs declined to comment. The
sources could not be named as the hiring has not been made