Just as thousands of people at Deutsche Bank are apprehensive about the imminent disappearance of their jobs, Deutsche's former head of EMEA investment banking is providing a helpful reminder that leaving banking doesn't have to be a bad experience.
Alasdair Warren left Deutsche Bank around a year ago, in June 2018. Since then, the former head of corporate finance for EMEA at DB has busied himself with the art deco cinema he owns in the Dorset town of Bridport, and is now venturing into running a village pub.
Local paper the Bridport News reported today that Warren is now the proud owner of the Pymore Inn, a freehouse just outside Bridport. Having teamed up with a publican and local wine merchant, Warren says his pub will offer local ales and ciders and a British menu with “an inventive twist.”
Warren is by no means the first ex-banker to venture into the hospitality industry. A former head of equities trading at RBC Capital Markets can be found running a pub in Kent. Warren himself won't be running his pub, but is clearly taking a keen interest in the venture near the town where he grew up. Less parochially, Warren is also involved with We Soda, a Turkish Soda Ash producer.
Warren was hired by former Deutsche Bank CEO John Cryan to turn around Deutsche's European investment banking business in 2016. A former partner at Goldman Sachs, he was rumoured at the time to have joined Deutsche on a large multi-year guaranteed bonus, although Warren denied this in an interview with Handelsblatt.
Deutsche Bank employees who want to follow Warren's example will need some spare cash. In an interview with Frankfurter Allgemeine Zeitung in February 2018 he said he'd had to spend £1.5m ($1.9m) buying and renovating the cinema which was only "cash break-even."
Deutsche employees who want to pay their old boss a visit should know that his new pub opens on 5 July and will welcome dogs.
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