Armin von Falkenhayn is familiar with both the American and the European side of the banking business. He was with Deutsche Bank for 25 years, serving as the assistant to former Chief Executive Josef Ackermann and, most recently, as head of investment banking in Germany.
He would have continued on his career trajectory if the bank had not been restructured and its investment business slashed in 2014, after which Mr. Falkenhayn looked for greener pastures. A year later, he was appointed head of German operations at Bank of America in Frankfurt.
Things are going well for him and the bank, extremely well in fact. After the financial crisis, the bank only played a secondary role in Germany, but things have been moving sharply uphill in recent years. Bank of America has been involved in almost all major German transactions, including chemical giant Bayer’s acquisition of seed producer Monsanto, the merger of gas suppliers Linde and Praxair, and the recent failed tie-up of the London Stock Exchange and Deutsche Börse. America’s second-largest bank is capturing the German investment bank business bit by bit.