GammonsÆ title was head of the debt products group for the global banking business of Deutsche. His role was to head the Asian leveraged finance team, and he also played a role collaborating with DCM, corporate coverage and syndicate in DBÆs high-yield franchise. Gammons answered to Lee Zhang, head of global banking Asia-Pacific, and chairman of Deutsche Bank China.
Deutsche Bank had no comment on the matter.
Gammons has been at Deutsche since June 2004. Prior to that, he worked at JPMorgan in leveraged finance and with financial sponsors.
ItÆs rumoured Gammons is heading to Citi and will be working closely with Christopher Laskowski, the well-regarded MD and head of the financial entrepreneurs group (FEG).
One specialist describes LaskowskiÆs group as æthe key industry coverage group for CitiÆs investment bank in Asia-Pacific, covering all the major active pools of capital, assisting financial sponsors in generating investment ideas, completing complex M&A deals, creating leveraged finance solutions, monetising positions in the equity capital markets and executing private placements and fund raising.ö
The FEG team works closely with the global loans and leveraged finance team, which is run by Farhan Faruqui. ôBasically, Chris's team provides the ideas to sponsors and Farhan's team puts together the financing package for sponsors, which is then syndicated,ö says one specialist.
It should be a promising platform to work from, with the duo involved in eight of the 10 LBO deals that closed in the Asia-Pacific region last year.
There is huge demand for leveraged finance specialists currently, not surprisingly given the spate of private equity buy-outs which has been occurring in the region.