At first glance, Deutsche Bank’s hire of the ex-finance boss of a big French energy company as its new mergers-and-takeovers chief seems an odd choice. But in filling a post that has been empty for the best part of a year, Thomas Piquemal is returning to his roots.

Deutsche Bank announced on May 16 that Piquemal would join its Paris office as global head of M&A and chairman of corporate and investment banking in France. His arrival is seen as a coup within the bank, which "pursued him vigorously" after his resignation in early March as group senior executive vice-president for finance at the French electricity company EDF Group, according to one person familiar with the situation.