Deutsche Bank’s David Bianco has been given a bigger role at the bank.
The well-known Wall Streeter is moving from his role as US equity strategist to Deutsche Asset Management, where he will serve as the chief investment strategist for the Americas and head of equities in the US.
“David is a well-respected and familiar face within our industry and will be a key public figure for us in presenting to our clients Deutsche Asset Management’s global views on markets, economies and policies,” said Bob Kendall, head of Deutsche Asset Management in the Americas.
In his new role, he will lead a team of investors responsible for stockpicking in the Americas, and help clients construct their own portfolios.
Bianco has more than 20 years of experience in the industry. Before joining Deutsche Bank in 2012 as the US equity strategist, he held the same role at Bank of America Merrill Lynch. He previously worked at UBS.
Not long after the financial crisis, he caught Wall Street’s attention by making big, bullish calls on the S&P 500 when few other strategists were willing to.
He’s also bullish heading in to 2017.
“The S&P 500 should be 2,250 by inauguration and 2,300 upon a sizable corporate tax rate cut,” he said recently.
His appointment follows that of Petra Pflaum as chief investment officer for responsible investments at Deutsche Asset Management. She was previously cohead of global research and global head of small & mid cap equities.
Deutsche Asset Management had around $750 billion in assets under management at the end of September 2016.