Deutsche Bank’s Harding-Jones Follows Fedorcik as IB Co-Head

(Bloomberg) — Deutsche Bank AG said Alison Harding-Jones will replace Mark Fedorcik as co-head of its investment bank as he retires from the German lender after a 30-year career.

Fedorcik will “take on a new challenge in the corporate sector,” the Frankfurt-based company said in a statement on Tuesday. Harding-Jones will succeed him as head of origination and advisory as of April and will also oversee the entire investment bank division alongside Ram Nayak, who runs fixed income and currencies trading.

The announcement comes after Deutsche Bank’s investment bank experienced strong growth over the past few years following a deep restructuring in 2019. The division’s revenue increased 15% to €10.6 billion last year ($11.1 billion), with the origination and advisory business growing 61% to €2 billion. 

The investment bank expansion has helped boost the German lender’s profitability, in turn allowing Chief Executive Officer Christian Sewing to step up investor payouts. The bank’s share price on Tuesday crossed the threshold of €20 for the first time since 2015.

Fedorcik has been “instrumental in overseeing a successful turnaround, achieving significant growth and market share gains in recent quarters,” Deutsche Bank management board member Fabrizio Campelli said in the statement. 

Harding-Jones, who joined Deutsche Bank last year as global head of mergers and acquisitions, will report to Campelli. She previously worked at Citigroup Inc. and before that spent more than 25 years at UBS Group AG and related companies.

Fedorcik’s career at Deutsche Bank spans its rapid expansion as a global investment bank as well as tumult in the previous decade when the lender struggled to find its footing after the financial crisis. 

Fedorcik joined as a graduate and spent his entire career at Deutsche Bank. He assumed responsibility for the investment bank and the O&A business globally in 2019, “during a challenging period,” Campelli said in the release. 

Campelli said on Tuesday that investing in O&A “is a core priority in our strategic growth, and we remain focused on this, and our investment bank overall.”

Harding-Jones “brings vast experience based on more than 30 years in the industry and has achieved an impressive track record,” Campelli said. He cited Harding Jones’ efforts to further develop Deutsche Bank’s M&A business and her contributions to setting and delivering on Fedorcik’s strategy in O&A.

The statement didn’t provide further details on Fedorcik’s plans. “After 30 years, it is time for a change,” he was cited as saying. “It is comforting to know that Deutsche Bank’s O&A business will be in very capable hands, across a talented and seasoned management team.”

(Updates with details on investment bank starting in seventh paragraph)

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