| March 23
March 23 Mark Cohen, the head of restructuring
finance at Deutsche Bank AG, will join Royal Bank of
Canada as head of its U.S. capital solutions group in
New York in June, people familiar with the matter said on
Cohen led Deutsche Bank's efforts to provide financing to
distressed companies, arranging rescue loans, so-called
debtor-in-possession (DIP) loans to help fund bankruptcies, and
loans to companies exiting Chapter 11 bankruptcy. He led the
restructuring finance group for 16 years.
Before joining Deutsche Bank, Cohen worked as an executive
director at UBS Group AG, according to his LinkedIn profile.
The sources spoke on condition of anonymity because the move
has not been publicly announced. Deutsche Bank did not
immediately return a request for comment. RBC provided no
Some of Deutsche Bank's recent restructuring deals included
DIP and exit loans for Energy Future Holdings and its
affiliates, which filed bankruptcy in 2014, and the DIP loan for
solar power developer SunEdison, which filed for bankruptcy
almost one year ago.
Deutsche Bank also helped arrange financing for the 2011
bankruptcy of American Airlines.
Cohen is the latest banker from Deutsche Bank to join RBC.
Earlier this year, the firm hired three senior bankers from the
German lender's financial institutions group, including Venikat
RBC also hired former Deutsche banker Marco Habert, who will
join its U.S. retail and consumer investment banking team
beginning Friday to focus on household and personal care, the
Overall, RBC has hired 11 managing directors in 2017 in its
U.S. investment banking group.
(Reporting by Jessica DiNapoli in New York and Matt Scuffham in
Toronto; Additional reporting by Lauren Hirsch and Olivia Oran
in New York; editing by Grant McCool)