Tags: Deutsche Bank | US Head | Woodley | Equities

Deutsche Bank Replaces US Head Woodley With Equities Manager: Sources

Image: Deutsche Bank Replaces US Head Woodley With Equities Manager: Sources
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Tuesday, 14 Mar 2017 06:25 AM

Deutsche Bank is replacing its U.S. chief Bill Woodley with the global head of its stock-trading business, Thomas Patrick, people close to the matter said.

Patrick, who was appointed head of global markets equities in late 2015, will take over from Woodley in the coming weeks, one of the people said.

Deutsche Bank declined to comment.

Germany's flagship lender announced earlier this month that Chief Executive John Cryan would personally look after expanding its U.S. business, which has lost market share to Wall Street rivals.

A planned 8 billion euro ($8.5 billion) capital increase and a stock market listing of Deutsche Bank's asset management business will replenish the lender's capital reserves but also free up funds for potential investments in its core business.

Since a push into investment banking starting in the late 1990s, trading activities have mostly been the main driver of earnings at Deutsche Bank, which views its U.S. performance as vital for the bank's success.

© 2017 Thomson/Reuters. All rights reserved.

   
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Deutsche Bank is replacing its U.S. chief Bill Woodley with the global head of its stock-trading business, Thomas Patrick, people close to the matter said.
Deutsche Bank, US Head, Woodley, Equities
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2017-25-14
Tuesday, 14 Mar 2017 06:25 AM
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