Citigroup wooes away Philip Winter from Deutsche Bank
22 January 2020 London
Image: Shutterstock Deutsche Bank’s securities lending business has suffered another high-profile departure, as Philip Winter is snapped up by Citi to become its new head of European securities lending supply.
Winter has left the German bank after 24 years where he most recently served as head of European securities lending supply, based in London, since 2014.
He joined the Deutsche Bank’s London office in 1996 before taking on equity finance roles in Hong Kong in 2004 and then Japan in 2005, before ascending to head of securities lending for Asia, excluding Japan, back in Hong Kong from 2009.
In 2014 he returned to London to lead the bank’s European securities lending business.
During this time, Winter also held a position on the board of the International Securities Lending Association (ISLA) between 2017 and 2019.
Winter’s departure marks the latest high profile exit from Deutsche Bank’s securities lending business. In November 2019, the bank’s global head of agency lending, Tim Smollen, along with several other members of its agency lending team were wooed away to take on similar roles at MUFG.
The embattled German Bank is also in the midst of selling off its prime brokerage to BNP Paribas, as part of a major overhaul of its investment business aimed at streamlining and cutting costs.
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