NEW YORK Deutsche Bank AG hired Robert Thornton and six technology investment bankers from Lehman Brothers Holdings Inc., the latest in a string of hires by Europes largest bank to bolster its mergers business.
Mr. Thornton, who was head of Lehmans technology mergers and acquisitions business, will become a managing director and head of West Coast technology mergers for Deutsche Banc Alex. Brown, the German banks U.S. subsidiary. He will report to Monte Koch, head of mergers for the Americas, and Michael Halloran, head of the global technology banking group.
Deutsche Bank is trying to gain ground in one of investment bankings most lucrative businesses. In July the company hired E. Robert Cotter, who was co-head of Salomon Smith Barneys merger group.
Mr. Thornton joined Lehman in June 1999 after leading Credit Suisse First Bostons mergers and acquisitions business on the West Coast for six years. Before that he spent nine years at Goldman Sachs Group.
Joining Mr. Thornton at Deutsche Banc Alex. Brown will be Tom Snef as director and Michael Burnett and V.P. Rajesh as vice presidents. Three Lehman associates are also joining the group.