NEW YORK, November 30 /CNW/ - Deutsche Bank Securities Inc. today
announced it is adding three senior specialists in the Bank's Equities group
as part of an expansion of its Special Purpose Acquisition Company (SPAC)
coverage and distribution business. Gil Ottensoser will join the Bank's US
Cash Equity Sales Group as a Managing Director and Eric S. Hackel has joined
US Cash Equity Sales as a Vice President. In addition, John H. Shaw III will
join the Equity Capital Markets Group as a Director. These additions will
further strengthen Deutsche Bank's SPAC platform.
To date this year, 60 SPAC equity deals have been priced raising a total
of US$10.1 billion, representing 19.6% of overall IPO dollar issuance and
26.9% of new issues. Deutsche Bank has served as a bookrunner on six SPAC
deals this year, raising $1.32 billion. The Bank's global platform provides
its SPAC clients with a full range of banking services, from inception through
"Over the past year, we've seen that the equity markets continue to be
receptive to 'blank check' companies with premier management teams, leading
sponsors and attractive deal structures," said Michael Friezo, Head of U.S.
Equity Capital Markets. "We believe that Deutsche Bank is the ideal partner in
'blank check' capital raising, and these hires will continue the strong
momentum we have achieved in the SPAC market over the past two years."
Ottensoser, Shaw, and Hackel all will join from Legend Merchant Group,
Inc. (LMG), a broker-dealer with significant experience in SPAC distribution.
While at LMG, they were the principals responsible for the firm's involvement
in the SPAC/Structured Blank Check arena and had spearheaded LMG's
participation as a co-manager, underwriter, or selling group member in more
than 75 SPAC equity offerings since August of 2003.
"Gil, John and Eric have been highly active participants in the secondary
market trading of SPACs for many years and among them possess a broad range of
experience in this space," said Derek Capanna, Head of Cash Equity Sales for
North America. "They have proven to be adept at the facilitation of large
institutional block trades as well as the sourcing of additional pools of
liquidity to provide clients with best execution. We're confident that they
will be an excellent addition to the Bank's Street-leading SPAC platform."
Ottensoser was the Vice Chairman of LMG and one of the three founding
Partners of the firm in 2002. Prior to LMG, Ottensoser was a Senior Vice
President at Jesup & Lamont Securities from 1996 to 2002, raising capital for
both public and private companies.
Shaw was the President and Co-Chairman of LMG and was a primary force in
the formation of the firm in 2002. Prior to LMG, he was a Managing Director at
Broadmark Capital, and held similar positions at Fahnestock (now Oppenheimer)
and Ladenburg, Thalmann.
Hackel was a Senior Managing Director at Legend and served as Co-Head of
LMG's Institutional Sales effort. Hackel was formally a Senior Vice President
at Jesup and Lamont Securities.
Mr. Shaw will report to Michael Friezo. Ottensoser and Hackel will report
to Derek Capanna. All three will be based in New York.
Deutsche Bank (NYSE: DB) is a leading global investment bank with a
strong and profitable private clients franchise. A leader in Germany and
Europe, the bank is continuously growing in North America, Asia and key
emerging markets. With 77,920 employees in 75 countries, Deutsche Bank
competes to be the leading global provider of financial solutions for
demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank Securities Inc., member NYSE, FINRA and SIPC, is the
investment banking and securities arm of Deutsche Bank AG in the United
For further information:
For further information: Deutsche Bank Securities Inc. Press and Media
Relations John Gallagher, 212-250-4516 Renee Calabro, 212-250-5525