Bloomberg News

Deutsche Bank Said to Hire Team From BofA Indonesia Advisory

October 25, 2011

Oct. 25 (Bloomberg) -- Deutsche Bank AG hired three Singapore-based investment bankers from Bank of America Corp.’s Indonesia advisory team, said two people with knowledge of the matter.

Indira Citrarini will join Frankfurt-based Deutsche Bank as a managing director, Siantoro Goeyardi as a director and Kusnadi Pradinata as a vice president for the lender’s capital markets and treasury solutions unit, said one of the people, who asked not to be named as the appointments haven’t been announced.

The three bankers were part of a four-person team based in Singapore, the people said. Bank of America’s head of Indonesia investment banking, Mira Arifin, is still at the Charlotte, North Carolina-based bank. She was appointed to the position last month.

Competition for bankers in the Southeast Asian nation is increasing as an expanding economy and natural resources lure acquirers from Japan to India. Bank of America’s Merrill Lynch unit is the top-ranked adviser on mergers involving Indonesian companies this year, while Deutsche Bank is in sixth place, according to data compiled by Bloomberg.

Four senior bankers left Deutsche Bank’s capital markets and treasury solutions unit in Asia for Nomura Holdings Inc. in recent months, including Daniel Mamadou, who was co-head of the business in the region excluding Japan, according to people familiar with the matter.

Bank of America said last week it appointed Chris Gammons as head of investment banking in Southeast Asia, replacing Tan Chong Lee, who left last month to join Singapore’s state-owned investment company Temasek Holdings Pte.

Citrarini, Goeyardi and Pradinata will start at Deutsche Bank in January and remain based in Singapore, one person said. The three bankers couldn’t be reached on the phone today for comment on the appointments.

--Editors: Philip Lagerkranser, Mohammed Hadi

To contact the reporter on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net


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