Deutsche Bank’s Jeffrey Mayer Said Leaving for Role at Cerberus

Jul 08, 2014 9:29 am ET

July 8 (Bloomberg) -- Jeffrey Mayer, Deutsche Bank AG’s head of corporate banking and securities for North America, is leaving the company to join Cerberus Capital Management LP, according to two people briefed on the matter.

The people asked not to be named because the pending departure hasn’t been made public. Mayer didn’t respond to an e- mail seeking comment. Michele Allison, a Deutsche Bank spokeswoman in New York, said he is still currently employed by the bank and declined to comment further. John Dillard, a spokesman for New York-based Cerberus, declined to comment.

Mayer joined Frankfurt-based Deutsche Bank in 2010 as head of global markets for North America, managing the bank’s sales and trading business in the region. Previously, he was the executive chairman of fixed income, currencies and commodities and head of complex structured products at UBS AG.

Prior to working at UBS, Mayer spent 19 years at Bear Stearns Cos., where he was a board member and held positions including global co-head of fixed income and head of mortgage and asset-backed securities. He spurned an offer to become vice chairman at JPMorgan Chase & Co.’s investment bank after the company acquired Bear Stearns in 2008, a position that would have paid him about $27 million in cash and restricted stock, according to a regulatory filing.

Mayer’s replacement at Deutsche Bank may be internal or external, according to two of the people with knowledge of situation, who said a decision hasn’t yet been made.

Rich Herman, Deutsche Bank’s global co-head of fixed income and currencies, has recently moved to New York from London. In addition, the company has made senior management changes in New York including hiring Chris Yoshida from Morgan Stanley as global head of rates sales.

Cerberus, founded in 1992 by Stephen Feinberg and William Richter, invests in private-equity deals, distressed assets and real estate, and also originates loans.

--With assistance from Craig Giammona in New York.