Deutsche Bank is remodeling its investment banking unit. Part of the new project will be a former top manager at Credit Suisse.
Deutsche Bank plans to promote Ram Nayak, the senior markets-structuring executive in the investment bank to run the global fixed income business, «The Wall Street Journal» reported, citing unidentified sources who know about the planned appointment.
Chief Executive John Cryan is restructuring the German banking giant from scratch as finews.ch previously reported. Part of the project by Cryan, who used to work at UBS, is to cut the investment bank back to size, integrating it into the markets division, separate from the corporate finance and advisory business.
Tough at the Top
Nayak, who joined Deutsche in 2009 from Credit Suisse, inherits a tough job. Several managers left the unit in recent months, for example co-head Richard Herman and Zar Amrolia, head of trading.
Nayak at CS signed for the trade of emerging markets securities. Previously he had been at Merrill Lynch.
