Deutsche Bank has a new MD in New York. He’s in a hot area
Much has been said about how AI is decimating hiring opportunities; not as much has been said about the hiring opportunities created by the technology. Luckily, there is at least one role in high demand.
Click here to join the bubble by eFinancialCareers, our new anonymous community. ✍️
Ren Chen will join Deutsche Bank later this month in New York as a managing director (MD) and global head of its enterprise and AI banking teams. He will initially report to Jeff Cady, Deutsche’s head of Americas banking, and then Ed Lui, who is joining Deutsche as global head of technology, media, and telecommunications banking when he joins in November. Deutsche Bank declined a request for comment on this article, and Chen did not respond to a request for comment.
Chen joined Deutsche from Chinese autonomous driving technology company WeRide, where he was chief strategy officer. He was CFO and chief business officer at startup Reka AI before that, for 10 months. Before his time in the industry, Chen spent 14 years at Morgan Stanley, where he was an MD in its capital markets team and global head of its internet investment banking offering. He worked across New York and Hong Kong for the bank.
“The last 3 years have made me truly believe the transformative change that AI will bring to bear on all aspects of our lives,” Chen said in a social media post. “It's because of this belief that I am headed to Deutsche Bank.”
Technology bankers are in high demand, and AI bankers are a key part of that. It’s no surprise; JPMorgan estimated last month that capital expenditure at the five largest cloud and technology companies will reach $697bn in 2026. That colossal pile of money is a business opportunity for banks, and hires like Chen (and Liu, as we noted) are important for Deutsche Bank, which has just a third of the number of managing directors that a more-entrenched bank like Goldman Sachs or JPMorgan has.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, WhatsApp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.
