Deutsche Bank global head of equities to leave - report

Tuesday, 25. June 2019 14:01

Deutsche Bank AG's global head of equities Peter Selman may leave the bank as part of its ongoing downsizing, the Wall Street Journal reported on Tuesday citing sources familiar with the matter.

The German lender's executives had been discussing a possible senior role for Selman in a planned non-core unit or "bad bank," according to the sources. However, they said that Selman had indicated in recent days that he was planning to leave. No timeframe was provided as to his departure, which people close to the matter said could change pending a final termination agreement, and Selman did not respond to requests for comment.

The reports come after recent separate reports hinted that the Federal Reserve will question Deutsche Bank over its proposals to shrink or close down large parts of its trading business outside Europe. The reports stated that the decision came about after the German lender said that it was preparing to set up a so-called "bad bank" that would have up to €50 billion in assets.

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Breaking the News / DZ