Deutsche Bank has hired a new head of European equity strategy from Morgan Stanley, becoming the third bank behind Bank of America Merrill Lynch and HSBC to make senior-level strategy appointments in the past three months.

Sebastian Raedler, who previously worked in the equity strategy team at Morgan Stanley, will join the German bank after a period of gardening leave, according to people familiar with the situation. He replaces Gareth Evans, who left last autumn to join Singapore sovereign wealth fund Temasek.