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Jake Gearhart, Deutsche Bank’s former head of emerging markets syndicate for the Americas, has relocated from New York to Singapore, and has assumed the role of head of global risk syndicate Asia. He replaces Herman Van den Wall Bake, who was promoted to head the firm’s Asia fixed-income capital markets business in June. According to a memo released yesterday, the change takes effect immediately.
Gearhart has had a 15-year career with the German bank, and he has held roles in debt capital markets covering financial institutions and in investment-grade trading, focusing on Yankee banks and insurance. As a member of Deutsche’s global risk syndicate, he managed project finance transactions within emerging markets as well as structured financing for developed-market borrowers. He was also involved in placing out Asian dollar bonds to US investors.
There is market speculation that Mark Whitcroft, a director of syndicate, Asia at Deutsche, could move to another market at some point after spending seven-and-a-half years in Asia. However, according to a source, he continues to take a leading role in the day-to-day operation of the desk.
Gearhart is not the first syndicate head to have been transferred to Asia from London or elsewhere recently. This year, Mitsubishi UFJ Securities hired Neil Arrowsmith from Royal Bank of Scotland (RBS) in London to head its syndicate desk in Asia, after an extensive search.
Last year, RBS transferred Alan Roch from London to Singapore to become its head of bond syndicate for Asia-Pacific. Roch was previously head of syndicate for Central and Eastern Europe, the Middle East and Africa at RBS. At Goldman Sachs, Julian Trott, who was previously head of emerging markets debt syndicate at Bank of America Merrill Lynch, moved from London to Hong Kong to head the syndicate desk in Asia.
According to Dealogic, Deutsche is placed sixth in league tables for US dollar bonds and high-yield US dollar bonds for Asia ex-Japan year-to-date.
