IKB hires UBS, Morgan Stanley Bankers for capital markets unit

IKB Deutsche Industriebank AG, the German lender bailed out over subprime-related losses, hired four bankers for its capital markets and acquisition units.

Tilo Kraus joined from UBS AG as head of capital markets, while Morgan Stanley’s Nicolaus Loos will run leveraged and acquisition financing for Germany, Switzerland and Austria, the Dusseldorf-based bank said in an e-mailed statement today.

Christian Czaya was hired from Dresdner Kleinwort to head institutional sales, and Thomas Kastele joins from Rothschild to run IKB’s mergers and acquisition advisory business, according to the statement.

IKB became Germany’s first casualty of the U.S. subprime- mortgage crisis in 2007 after its investments in asset-backed securities soured, requiring a government-led bailout. Dallas- based private-equity firm Lone Star Funds subsequently bought a stake of more than 90 percent in the lender.