Deutsche Bank Securities, the U.S. investment banking arm of Deutsche Bank AG, has hired James M. Marks as a managing director in its equity research department covering the electronic commerce sector.

Mr. Marks started Monday in the New York office. He reports to Steve Black, the head of research. He joins the German bank from Credit Suisse First Boston, where he had covered electronic commerce since 1996.

Previously he was a senior vice president and equity analyst at Sutro & Co. in San Francisco, where he covered banks and financial services. Before that, he was a partner in Charlottesville, Va.-based SNL Securities, a research firm focused on financial services companies.

Mr. Marks was the first Wall Street analyst to cover on-line banking, brokerage, and payments companies as a group, according to a statement by Deutsche Bank.

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