Deutsche Bank US chief quits as shake-up continues

Deutsche Bank US chief quits as shake-up continues

CARTER MCCLELLAND, head of Deutsche Bank North America and former co- head of global investment banking, is expected to leave the company within weeks. Mr McClelland's decision is believed to be connected with the continuing reorganisation of the bank and the appointment of Bill Harrison, former head of BZW, as vice-chairman of DMG, Deutsche's investment banking arm. The news follows the resignation earlier this week of Maurice Thompson, also former co-head of investment banking. Mr Harrison, who will spearhead the integration of Deutsche's investment and global banking arms, officially starts work on Monday. Deutsche's overhaul of its operations is expected to cost 9,000 jobs world-wide.

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