Deutsche Bank AG DBK.XE -0.76% has hired a senior investment banker from UBS AG UBSN.VX +3.46% in Thailand, as competition for talent heats up in the Southeast Asian country which has seen hectic deal activity in recent months.
Phumchai Kambhato will join the German bank in a new role as its head of corporate banking and securities, and head of corporate finance for Thailand, based in Bangkok, according to a person with knowledge of the matter Tuesday. Mr. Phumchai was previously head of investment banking for Thailand at UBS.
The move signals Deutsche Bank’s ambitions to make headway in Thailand, where up until now UBS has had a particularly strong position, advising on and financing key deals such as billionaire Dhanin Chearavanont’s $9 billion acquisition of HSBC Holdings PLC’s stake in Ping An Insurance (Group) Co. of China Ltd., and a $6.6 billion offer by Mr. Dhanin for Thai discount-store chain Siam Makro PCL this year.
Deutsche Bank also boosted its presence Southeast Asia this month by hiring Tan Boon Kee as its head of client coverage for the region from Goldman Sachs Group Inc.
Mr. Phumchai’s hire also comes as advisory firm Evercore Partners Inc. hired UBS’s chairman and head of Singapore and Malaysia investment banking Keith Magnus as chief executive of its new Singapore office.