Coxon joined Deutsche Bank's Hong Kong-based operations about a month ago and his arrival reflects the bank's continuing personnel build-up in the region at a time when many of its rivals are cutting back.

The British-born banker joins the German bank after four years away from active market service. Having married a Kiwi, he left what was then SBC Warburg's equity syndicate desk in London in 1997 to take up institutional and retail broking in Auckland.

He says, "It's nice to be back in the thick of things again. I felt like I'd taken early retirement down in New Zealand."

He will report to Asian head of ECM, Philip Southwell.