Jain rejigs a key Deutsche bank division
ANSHU Jain tightened his grip on Deutsche Bank’s investment bank by installing a 15-member management team of mostly company veterans, ahead of today’s second-quarter earning results.
The changes introduced by Jain, who is favourite to succeed Josef Ackermann as Deutsche Bank’s chief executive, mark an evolution in Deutsche’s strategy, with the bank focused on corporate finance, markets and transaction banking.
The reshuffle more closely integrates a division previously run by former investment banking co-head Michael Cohrs, who has left Jain to take over sole responsibility from July.
The 15 CIB executive committee members are: Jacques Brand, investment banking coverage and advisory, Alan Cloete, global finance and foreign exchange, Ivor Dunbar, capital markets, Michele Faissola, rates and commodities, Colin Fan, credit and emerging markets, David Folkerts-Landau, research, Rich Herman, institutional client group, Stephan Leithner, investment banking coverage and advisory, Boon-Chye Loh, Asia Pacific region, Jeff Mayer, North America region, Ram Nayak, structuring, Brett Olsher emerging markets coverage, Garth Ritchie, equities, Henry Ritchotte, chief operating officer and Werner Steinmueller, transaction banking.