Deutsche Bank is set for another big shake-up

Deutsche Bank is set to announce another shakeup in its senior ranks, according to people familiar with the matter.

Dixit Joshi, who previously led the bank’s fixed-income sales force as head of the institutional client group for debt, is expected to move to the role of group treasurer, according to people familiar with the matter. In that role, he will have a part to play in developing and managing Deutsche Bank’s funding and capital strategy.

Joshi was put in charge of Deutsche Bank’s fixed-income sales team in late 2015, when the bank made a raft of changes at its investment bank. Late last year, he sent a memo to staff announcing that Deutsche Bank was cutting 3,400 clients off as part of an effort to reduce complexity in the bank’s markets division.

It is expected that he will be replaced in the sales role by Louise Kitchen, the global head of commodities sales and structuring at the bank, according to people familiar with the matter. Kitchen joined Deutsche Bank over a decade ago from UBS.

The changes would be the latest in a series of leadership changes at the bank. The Wall Street Journal has previously reported that Jeff Urwin, Deutsche Bank’s corporate and investment banking chief, is in discussions to leave that role.

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