DB Capital Partners, the international buyout division of Deutsche Bank, has lost Manjit Dale, who has resigned as head of DB Capital Partners Europe. Another executive understood to be on his way out is Steve Robertson, who is expected to give his notice soon.
Dale, who joined Deutsche in 1999 when the bank acquired Bankers Trust, is leaving to set up his own buyout operation. His responsibilities at DB Capital will be taken over by Graham Clempson, the group’s European managing partner.
A spokesman at Deutsche said Dale’s departure had not come out of the blue, but had been anticipated for a while. Dale’s brief of building a European buyout operation had been fulfilled, the spokesperson said.
Dale oversaw DB Capital’s £670m purchase of Centre Parcs, the holiday group, and the bank’s participation in taking private United Biscuits.
The resignations come shortly after DB Capital emerged as Deutsche’s integrated private equity business that absorbed the bank’s erstwhile buyout division Morgan Grenfell Private Equity. They may add to speculation that the future of Deutsche's private equity business operation remains somewhat uncertain following the recent difficulties surrounding Morgan Grenfell and the bank's top management shake-up announced two weeks ago.