Deutsche Bank is preparing a change in investment banking leadership, according to a report in the Wall Street Journal.
Colin Fan, co-head responsible for global securities trading, is moving out of the role.
The bank is in talks to promote Garth Ritchie, who’s currently global head of equities, said the WSJ, citing people familiar with the change.
Fan was close to former Deutsche Bank co-CEO Anshu Jain, who was replaced by former UBS finance chief John Cryan in July. Fan has held his position since Jain was made in 2012.
The German bank is going through a period of change as it contends with rising legal expenses and tougher capital rules. The bank said this month it expects a third-quarter loss of €6.2 billion ($US6.96 billion) and the board will recommend a cut to, and a possible elimination of, the dividend for full-year 2015.
Meanwhile the bank is closing its Russian corporate banking arm and sending its regional chief, Joerg Bongartz, back to Frankfurt amid allegations of money-laundering probes.
Business Insider Emails & Alerts
Site highlights each day to your inbox.