Finance

JPMorgan poaches Goldman Sachs dealmaker to lead German ECM

JPMorgan has bolstered its European equity capital markets team with a new head of German-speaking countries amid a hiring spree for European dealmakers.

The US bank has hired Thorsten Zahn as head of ECM for Dach (Germany, Austria and Switzerland), according to an internal memo seen by Financial News.

Zahn joins from Goldman Sachs and has previously worked at Morgan Stanley. He will be based in London and report to Stefan Weiner, head of Northern Europe ECM.

Weiner said Zahn was a “hugely experienced banker who will greatly enhance our origination and execution capabilities in the region” in the memo.

READ BNP Paribas poaches new UK capital markets head Tom Snowball from UBS

Investment banks in the City have continued to bolster their equity capital markets functions this year as revenues have surged. BNP Paribas has just taken on Tom Snowball from UBS to lead its UK ECM business, while Deutsche Bank has also hired for its European ECM team this year.

JPMorgan has nearly 12% of the ECM fee pool in Europe, the Middle East and Africa, having hauled in $659.8m so far this year, according to data provider Dealogic. This is an 83% increase on the same period last year.

To contact the author of this story with feedback or news, email Paul Clarke

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