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Financials

MOVES-PJT hires Deutsche Bank CEO of North America Jacques Brand -sources

May 2 (Reuters) - Jacques Brand, CEO of North America at Deutsche Bank AG, is leaving the German investment bank after nearly two decades to join boutique investment bank PJT Partners Inc, people familiar with the matter said on Monday.

Brand is joining New York-based PJT as a dealmaker, one of the people said, though his new title could not be learned. The sources asked not to be identified because the hire has not been announced publicly.

“Jacques Brand, CEO for the Americas, has informed us of his decision to leave Deutsche Bank to pursue another opportunity,” Deutsche Bank said in a statement on its website.

PJT declined comment.

Brand held several positions at Deutsche Bank since joining in 1999, including acting as global head of investment banking coverage and advisory. He began his career at Lehman Brothers Holdings Inc in 1984 and joined Bankers Trust, which Deutsche Bank subsequently acquired, in 1990.

Deutsche Bank has seen a number of high-profile moves since announcing a reorganization plan. In April, Anthony Whittemore resigned his position as Americas co-head of mergers and acquisitions.

PJT is run by former Morgan Stanley banker Paul Taubman. It was created through the merger of Taubman’s firm with the advisory business of Blackstone Group LP, which was subsequently spun off last year. (Reporting by Greg Roumeliotis and Lauren Hirsch in New York; Editing by Bernard Orr)

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