Deutsche Bank’s Rankin named CEO of Packer’s Consolidated Press

Deutsche Bank AG’s co-head of corporate banking and securities, Robert Rankin, will leave to join Australian billionaire James Packer’s Consolidated Press Holdings Ltd.
Rankin, an Australian, will leave his job in London in January to become chief executive officer of Packer’s investment firm, Deutsche Bank said in a statement Saturday. A successor will be named “in due course,” the Frankfurt-based lender said.
“I see Rob as my partner going forward,” Packer, 47, said in a telephone interview. “I’ve known Rob for a long time, he is someone I have great faith in and great trust in.”
At Deutsche Bank, Rankin oversees the corporate finance unit, which houses the advisory arm, debt and equity underwriting, while Colin Fan, the other co-head of the investment bank, is responsible for trading. Rankin, 51, took up the position in March 2012.
Deutsche Bank hired Rankin, a former head of investment banking for Asia-Pacific at UBS AG, as CEO for the region excluding Japan in 2009. He was initially hired to improve the bank’s standing in advisory in Asia. At the time, the company ranked behind firms such as UBS.
In its statement, Deutsche Bank said its share of the global corporate finance fee pool increased to 5.5 percent in the first nine months of 2014 from 5 percent in 2011.
Packer will remain as chairman of Consolidated Press Holdings. Born into an Australian media dynasty started by his grandfather Frank, Packer has a net worth of about USD5.2 billion according to Bloomberg Billionaires. His investments include casinos from Melbourne to Macau.
“I look forward to working with the bank as a client in the future,” Rankin said in the statement. Ambereen Choudhury, Bloomberg