Under the changes, Colin Fan, who co-heads the global securities trading unit, is shifting out of the position.
The bank is believed to be promoting Garth Ritchie, the present global head for equities unit, reported the Wall Street Journal, citing people familiar with the matter.
Former Deutsche Bank co-CEO Anshu Jain was replaced by former UBS finance chief John Cryan in July.
The bank is undergoing changes as it aims to cut down growing legal expenses and meet stringent capital rules.
The bank expects to post loss of EUR6.2b ($6.96bn) in the third quarter. Following the results, the board may suggest a cut or even an elimination of dividends for full-year 2015.
The German bank is closing its corporate banking unit in Russia and moving its regional head Joerg Bongartz to Frankfurt following allegations of money-laundering activity in Russia.
The investment bank will be divided into two units. The corporate finance business will be combined with global transaction banking unit to form a new entity, which will be headed by Jeff Urwin.
Urwin earlier co-headed the investment bank along with Fan.
The securities trading division will become standalone unit, which will be headed by Ritchie.
Deutsche will move its wealth management unit from its asset management unit and combine it with retail banking division. The asset management unit will be headed by Quintin Price, a former BlackRock executive.
The new structure is designed to simplify the bank.
Deutsche intends to put focus on four kinds of clients: large businesses, institutional investors, asset managers and individual clients.
The restructuring comes just a few days before Cryan and co-chief executive Jürgen Fitschen will unveil the bank’s new five-year plan, which could see thousands of jobs being cut.
Image: The headquarters of Deutsche Bank in Frankfurt. Photo: Courtesy of Thomas Wolf/Wikipedia.
