Jefferies poaches Deutsche Bank bankers

U.S. investment bank Jefferies is looking to ramp up its coverage of Southern Europe with the hiring of two senior executives from Deutsche Bank. The goal of these hires is to prioritize serving clients in Spain and Portugal. A source close to the matter revealed this to Reuters.

The Wall Street lender has poached Deutsche Bank’s Head of M&A in Iberia, Andres Gutierrez. He will now serve as its new investment banking boss for the region. Jefferies also poached Santiago Garcia Linares, a vice president at Deutsche Bank. He will now serve in the capacity of director at the lender’s Madrid office.

The process is scheduled for final completion in mid-December, which is when Gutierrez and Garcia Linares are expected to resume at Jefferies. The two men re expected to advise infrastructure clients among others, the source noted.

Gutierrez, a veteran in the sector with a 14-year long track record at Deutsche Bank, will report to Armando Rubio-Alvarez, a former Credit Suisse banker who joined the bank earlier this year as country head for Spain and Portugal while also taking the helm of the bank’s financial institutions (FIG) franchise across Europe, the Middle East and Africa.