Lazard Hires Top Dealmaker Schenck From Rival Perella
(Bloomberg) -- Marcus Schenck is leaving his role as head of Perella Weinberg Partners's advisory business in Germany after little more than three years to join rival Lazard Ltd.
Schenck will be a member of the global management committee for Lazard's financial advisory business, a spokesperson for the firm said. He will head its investment banking business in Germany, as well as the wider DACH region that includes Austria and Switzerland.
Ken Fritz will become vice chairman of investment banking in Germany at Lazard. A representative for Perella Weinberg declined to comment.
A well-known dealmaker in European banking circles, Schenck joined Perella Weinberg in early 2019 shortly after leaving Deutsche Bank AG, where he'd risen to become a contender for the role of chief executive officer.Â
Deutsche Bank hired Schenck in late 2014 from Goldman Sachs Group Inc. A soccer fan with a hearty laugh, Schenck went on to run the German lender's investment bank. But he struggled to return the business to growth and was said to have disagreed with management about Deutsche Bank's direction before his departure in 2018.
Originally based in London at Perella Weinberg, Schenck went on to lead its Munich office, which opened in 2020, alongside Stefan Jentzsch.
The New York-based advisory firm competes with the world's largest banks on mergers and acquisitions and reached 20th place globally last year, according to data compiled by Bloomberg. It ranked 22 in Europe, where it's been expanding in recent years with the hiring of bankers including Clinton Ray, Guy Morgan, Marie-Soazic Geffroy and Max Mesny.
Before Goldman, Schenck was chief financial officer of German power producer EON SE. He began his career at McKinsey & Co.Â
©2022 Bloomberg L.P.
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