As part of a strategy to expand across the continent, Deutsche Bank AG is expanding its investment banking staff and offerings in South Africa.
According to the country head for South Africa, Saloshni Pillay, the German lender has added a senior corporate originator to the team who sources clients and business possibilities. The goal, according to her, is to create a deals hub for all of Africa.
“We will continue to build on what we have with a select number of clients and deliver to them,” said Pillay. “Then we have identified a broader client base that we will be targeting, really to build a pipeline of deals and work for 2023-2024.”
In order to rebuild after personnel numbers dropped as a result of two rounds of worldwide reorganisations the lender took out in 2018 and 2019, Pillay was hired by Deutsche earlier this year from Absa. Early successes included assisting with the $2 billion acquisition of Empire Logistics by DP World.
68 individuals work in the South African office, according to Pillay. Since 1979, Deutsche has operated in the nation.
According to the co-chief executive officer for the Middle East and Africa, Kees Hoving, Deutsche has identified Africa as a growth opportunity and will assist clients intending to invest there or incumbents looking to access different banking services. According to him, the technique used in Asia over the previous 20 years will serve as the foundation for the plan.
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