Deutsche Bank Hong Kong loses 26 junior bankers since February

Deutsche Bank lost about 26 junior bankers in Hong Kong over the past four months, the biggest number of such departures from the firm in Asia in at least five years, two people with knowledge of the matter said.

The employees, including four directors and four vice-presidents, began leaving voluntarily in late February after receiving their bonuses, the people said. The departures came as Deutsche Bank added nine managing directors over the past 12 months in Asia, said bank spokesman Michael West.

Management changes and shrinking investment-banking revenue from China contributed to the exits, one of the people said. Frankfurt-based Deutsche Bank, whose ranking for underwriting debt and equity in Asia dropped since 2012, has fewer junior bankers to help execute deals as securities firms worldwide grapple with how to attract and retain young talent.

"The total number of bankers in our Asia-Pacific business will not vary significantly if at all year on year," said West, declining to comment on the number of staff who left. The "turnover in banking was well within the single-digit percentage range."

Global banks operating in Asia face pressure from a shrinking investment-banking market. Fee income from underwriting equities and bonds, as well as advising on mergers and acquisitions, fell 23 per cent in the region from 2011 to 2013, according to New York-based research firm Freeman & Co.