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Deutsche Bank just named a new US head of its institutional client group amid an ongoing shakeup at the German lender

 

Deutsche Bank
REUTERS/Kai Pfaffenbach
  • Deutsche Bank has named John O'Brien as head of its institutional client group in the Americas, with responsibility for both fixed income and equities clients. 
  • The appointment comes after a series of departures as new CEO Christian Sewing tries to steady the bank. 

Deutsche Bank just named a new US head of a group that distributes fixed income and equities products to clients.

John O'Brien has been named head of the German lenders' institutional client group in the Americas, according to an internal memo viewed by Business Insider.

O'Brien joined Deutsche as head of equity derivative sales in 2014. In 2017, he became head of Americas equity sales. He previously spent his career at Bank of America Merrill Lynch in roles across equities and fixed income.

Deutsche Bank has been shuffling around major executives in the last several weeks after the appointment of new CEO Christian Sewing. Sewing, who replaced former chief executive John Cryan, has said the bank will scale back its ambitions in the US market and focus instead on Europe. The bank is looking at various ways to cut costs and pull out of businesses where it isn't profitable. 

A number of key Deutsche executives have also exited the bank in the last several weeks, including investment banking co-head Marcus Schenck. 

 

 

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