A sixth managing director in a month has left Deutsche Bank's leveraged finance and financial sponsor group. Colm O'Sullivan has decided to join PAI, a French buy-out house.
He would not comment on his departure but a source close to PAI said he would join the consumer deal team in London and report to partner Frédéric Stévenin.
O'Sullivan, who was promoted to managing director in the financial sponsor coverage team only this month, is the sixth to leave in the past four weeks.
His departure follows the retirements of David Wood, former co-head of leveraged finance; Bruno Rigal and Andreas Haindl from the financial sponsor coverage team; Charlotte Seagrave, former managing director in leveraged loan syndication; and John Sinik, a former managing director of leveraged finance who is to become co-head of leveraged finance at UBS.
William Maltby, who was recently promoted to head of financial sponsor coverage and leveraged finance, confirmed O'Sullivan's move and said an internal transfer would fill the hole left by his departure.