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Oct 3 (Reuters) - Deutsche Bank has hired Brian Pitz, who previously worked as a managing director in equity research at Jefferies Group LLC, as co-head of the bank's internet investment banking group, according to an internal memo.
The hiring shows that the German bank is still seeking to lure talent, even as it faces a multibillion-dollar legal settlement with the U.S. Department of Justice over its sale of mortgage-backed bonds.
A Deutsche Bank spokeswoman on Monday confirmed the contents of the memo.
Pitz's 20 years of experience covering the internet space include work at Morgan Stanley and most recently at Jefferies, where he oversaw coverage of the internet and interactive entertainment industries.
Pitz, based in New York, will be co-head of the internet group alongside recently promoted Riaz Ladhabhoy. Ladhabhoy, a managing director in its technology, media and telecom group, has spent a decade at the bank.
The hires come the U.S. IPO market has begun to open for technology companies and industry experts expect a rush of internet and technology IPOs over the next 18 months. (Reporting by Lauren Hirsch; Editing by David Gregorio)