Deutsche Bank just named a new sales head of its trading division

Business Insider | May 16, 2018, 09.13PM IST

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 sales head of its trading business on Wednesday.

John O'Brien has been named head of the German lenders' institutional client group in the Americas with responsibility for covering clients across both fixed income and equities, 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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