Deutsche Bank said Monday that it has appointed Morgan Stanley chief executive Amit Sheshinski as head of its real estate and advisory business in Australia as it tries to rebuild its business in the country.
Deutsche said in a statement that at Morgan Stanley in Sydney, Sheshinsky has worked on deals for high-profile clients in the real estate sector, including Blackstone, the world’s largest real estate manager, and Oxford Properties Group, a Canadian developer.
“With a number of large global real estate groups operating in Australia, this is a natural area for us to increase our focus,” said Hugh MacDonald, local head of investment banking, in a statement.
According to his LinkedIn profile, Sheshinsky spent over six years at Morgan Stanley in Sydney and previously worked at Citigroup Inc in Melbourne.
In 2018, Deutsche Bank closed its equity business and cut the size of its advisory division in Australia as it tried to reduce dependence on its investment bank in an effort to stabilize its business.
Sheshinsky’s recruitment follows two other sector leaders hired by Deutsche in the antipodal country this year.
Last month, the German bank hired David Hopwood of Bank of America as head of its natural resources group, and in February it hired Martin Nosek of Nomura Holdings Inc to head up financial institutions consulting in Australia.