SMO overview
Some thoughts based on our discussions. I've shared with Patrick so he has more color. Thanks
Career overview:
20yrs in banking overall
16yrs investment banking/capital markets (JPM and CS)
4 yrs private banking (DB)
CFA and CAIA charterholder. Series 7,9,10,24,63 licenses
JP Morgan Investment Bank (1998-2002)
Debt capital markets/structured credit
Credit Suisse Investment Bank (2002-2014)
Equity derivatives, structured investments, liquid alternatives
Covered private clients (via CS private bank) for 12yrs
Ran single stock hedging business for 10yrs (2005-2014)
Ran structured notes distribution to private bank (2007-2011)
Led US sales effort of liquid alternative/quantitative strategies to family offices, insurance companies, pensions and fund-of-funds (2010-2014)
Deutsche Bank (2014 to present)
Had 2 competing DB offers in 2014 — Investment Banking (derivatives) and Asset Mgmt (liquid alts). Sought advice from Chip
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Packard, whom I had known for 12yrs
Chip instead recruited me to join private bank, which was trying to become more investments-focused. Joined October 2014. I was initially teamed up with Paul Morris, who had joined from JPM 2yrs prior and was struggling. KCP was fairly new in 2014 and ISG was not yet formed. Paul had limited success and was asked to leave in 2016. At various times here, I have been offered positions as head of ISG or member of KCP Have never sold a share of DB stock
Financial performance:
2018 revenues - $4mm annualized
2018 NNA - $211mm
2017 revenues - $1.7mm ($2.5mm exit run rate)
2017 NNA - $112mm
2016 revenues (w/ Paul until May) — $1.6mm
2016 NNA — negative. After winning $100mm in CDs, lost all during DOJ crisis
2015 revenues (combined w/ Paul) — $1.3mm
2014 revenues (Paul Morris)— $0.9mm
Client highlights:
Third Lake — had major relationship breakthrough in 2016. Won $107mm in deposits in DBTCA across 18 accounts. All deposits and 16 accounts were gone by the end of the year due to the DOJ news (the two remaining open
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accounts had less than $1 in them). Family CIO also left in 2016. Rebuilt trust in DB throughout 2017. Opened 37 new accounts in 2017, ending year with $82mm in DBNY deposits. Have opened 16 more accounts for third generation of family and gained another $40mm in 2018. Total assets here are $122mm.
Ashley Furniture — strong relationship with founding family (Wanek/Third Lake) led to introduction to corporate treasury staff. Won $175mm mandate for long-dated DBNY CDs. Lots more opportunity for GTB and credit over the coming months.
Southern Financial — one of the most complicated client situations I've seen. They have been extremely vocal about our lack of trading capabilities since I joined. Withdrew large portion of assets during 2016 (not DO) related). Client was offboarded by Global markets at the end of 2016 due to lack of profitability. Further internal issues nearly caused us to offboard the client completely. Client was quite close to Paul and viewed his departure as a negative. I've managed to salvage and massively improve this relationship in the last two years. To start, we won $50mm of deposits into DBNY in 2017. We've also turned around the GM/trading issues via KCP. Client has been re-onboarded and ISDA reestablished, and is now the largest trading counterparty of the KCP capital markets group. Current balances are —$230mm across brokerage and deposits.
MCM — Worked closely with Terri and KCP to win fundraising mandate. Successfully convinced KCP to take on the 3PI mandate. After introduction was complete, worked to establish credit line with DB structured credit group. MCM has also been mandated by DB to assist with DO) consumer relief settlement.
Internal DB highlights:
Banker partnerships — In 2017 I began to work more closely with Terri Sohrab which led to success with MCM and greater collaboration on several other accounts. My background and skill set are complementary to Terri's and we work well together. I've also worked a bit with Heather Kirby and Bruce McDermott. Recently, I've been working with Rosemary Vrablic and her team on an insurance premium finance trade for two of her clients, referred to the bank by one of my close relationships. Other bankers continue to seek me out to help on certain situations and I'm known as a team player. I think this is especially important in the current environment at the bank.
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Internal networks — I've become quite involved with our NextGen network and will continue to contribute to those efforts. I've sent clients to NextGen events since 2016 and attended the Innovation Summit with a client in 2017. Based on my involvement last year, I am part of the steering committee for 2018. I've helped Sarah with parts of the New York events and have discussed taking on a broader role with Paula Pullano. Finally, I've been involved with a global DB branding focus group. Corporate culture is very important to me and I would like to continue to get more involved.
MDs who would be supportive of promotion
Management:
Patrick Campion
Andrew Gallivan
Salman Mandi
Caroline Kitidis
Steve Mattus
Kim Hart
Wealth Planning:
Sam Petrucci
ISG:
Coley Jellinghaus
KCP:
Todd Stevens
Xavier Avila
Tazia Smith
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Daniel von Heyl (CFP)
DPM:
Larry Adam
Paul Bartilucci
Credit:
Tom Clarke
Nick Haigh
Laura Farischon
Pete Ferrara
Deposits:
Charlie Burrows
Bankers:
Terri Sohrab
Deirdre Judge
Rosemary Vrablic
Joanne Jensen
Heather Kirby
Bruce McDermott
CIB:
Several, can discuss
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Marketing:
Paula Pullano
Would like to get to know better:
Fabrizio Campelli
Balaji Prasanna
Bernd Amlung
Christian Notting
Stewart Oldfield, CFA, CAIA
Director
Deutsche Bank Trust Company Americas
Deutsche Bank Wealth Management
345 Park Avenue, New York, NY 10154
Securities offered through Deutsche Bank Securities Inc.
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