Deutsche Bank adds UK dealmaker
Deutsche Bank has hired a veteran UK coverage specialist, who has previously worked on high-profile deals for Cookson Group and Logica, as it looks to build on a positive first half for UK investment banking revenues.
Simon Gorringe, a managing director in UK investment banking at Bank of America Merrill Lynch, left the bank late last month, according to the UK's Financial Services Register.
He is set to join the UK coverage team at Deutsche Bank in September, following a period of gardening leave, according to three sources. Gorringe could not be reached for comment.
A veteran UK specialist, Gorringe spent eight years at Bank of America Merrill Lynch, having joined from JP Morgan Cazenove in June 2005.
He most recently advised on the demerger of UK industrial group Cookson in November last year, during which it split into two companies ̶ Alent and Vesuvius. Alent is produces parts for smart phones and computers, while Vesuvius houses engineered ceramics, used in global steel and foundry industries.
Earlier that year, he advised UK outsourcing company Logica on its $3.2bn sale to Canadian peer CGI Group. In 2011 he worked on BAE Systems' $249.4m deal for regulatory compliance software company Norkom.
He also worked on the UK government's disposal of its interest in defence company QinetiQ in 2008 in a $456.3m deal in 2008.
Deutsche Bank ranked sixth for UK investment banking revenue in the first half, according to Dealogic, up from 10th place in the same period in 2012. Bank of America Merrill Lynch meanwhile ranked third, up from eighth in the first half of 2012.
The appointment of Gorringe comes less than a year after the German bank made a number of cuts to its UK team. Financial News reported in September last year that the bank had cut high-profile UK-focused bankers from its advisory business, including James Cass, Andrew Thompson, Rupert Green and Omar Faruqui.
