One of the Deutsche Bank SPAC bankers who lost his job last month following an investigation into a strip club visit that was filed as a business expense, has already started a new job with a bigger title, Reports EFinancialCareers.
Bloomberg reported last month that Brandon Sun, Deutsche’s former head of SPAC advisory, would be joining Cohen and Company, an investment bank that decribes itself as ‘a financial services company specializing in fixed income markets and, more recently, in SPAC markets.’ Sun’s LinkedIn profile shows that he’s just arrived. A mere director at DB, Sun is an MD at Cohen.
While banks like Goldman Sachs and Citi are pausing work on SPAC deals while waiting for the SEC to qualify the rules governing the market, smaller banks like Cohen and Company appear to be doubling down. Cohen’s boutique investment bank is focused on SPAC clients, and works in the fintech space in particular.
Sun was one of four Deutsche Bank bankers fired over the strip club incident. The others, Ben Darsney, head of equity capital markets in the Americas, Ravi Raghunathan, an MD, and Daniel Gaona, an associate have yet to be reemployed. Sun, who was at Deutsche Bank for nearly 10 years and is said to be one of the most experienced SPAC advisory bankers in the market, didn’t respond to a request to comment for this article. It’s understood that he didn’t actually attend the club, and was simply alleged to have been involved in the subsequent expense report. Read more.
