NEW YORK - Deutsche Banc Alex. Brown, the U.S. investment banking arm of Frankfurt-based Deutsche Bank AG, continues to build its equities staff by poaching rival Wall Street firms.
The company said Wednesday that it had hired three senior executives to help run its North American equities business.
Karen Zachem jumped from Goldman Sachs & Co. to Deutsche as a director in institutional equity sales based in New York. Doug Fitzgerald joined as her counterpart based in Boston. Mr. Fitzgerald came from Dresdner Kleinwort Benson. Both report to Aaron Liberman, another Goldman Sachs executive who joined Deutsche recently as head of North American institutional sales.
In addition, Margaret Jeffrey joined as director and head of marketing for the North American equities group, based in New York. Ms. Jeffrey, who was director of marketing and co-head of equity research at J.P. Morgan Securities, reports to Vikas Nath, head of marketing for global equities at Deutsche Banc Alex. Brown.
In a statement, Mr. Liberman said the hirings were "an important part of our strategy to increase our market share with top U.S. institutional clients."
The changes come as part of a broader shift at the German banking giant, which recently walked away from a deal to merge with its rival Dresdner Bank AG.
Earlier this month the company announced a restructuring of its global equities and global markets units following the appointment of Edson Mitchell, formerly head of markets, and Michael Philipp, formerly head of equities, to the senior management ranks of the company. The two businesses now report to Mr. Mitchell, while Mr. Philipp has taken over the company's asset management group.