People News: Deutsche Bank

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Ashok Aram, who heads Deutsche Bank in the Middle East and Africa, will expand his role to take charge of Europe as the bank reduces its global coverage to five regions from seven.

Bloomberg News reports that Aram, who has led the Middle East since 2010 and added Africa to his responsibilities this year, will become chief executive officer of Europe, Middle East and Africa, co-CEO Juergen Fitschen said October 29. EMEA will be managed from Europe, he said.

In the meantime, Bloomberg also reports that Deutsche Bank plans to name Ram Nayak as its global head of fixed income and currency trading division, according to a person familiar with the matter.

Nayak, who is based in London, worked at Credit Suisse before joining Deutsche Bank in 2009 as head of global markets structuring. In his new role he will report to Garth Ritchie, who was named last month to lead the global markets unit, said the person, who asked not to be identified because the promotion hasn’t been made public. The Wall Street Journal reported earlier that Nayak will get the role.

Deutsche Bank Names Mideast, Africa CEO Ashok Aram EMEA Head

Deutsche Bank Said Poised to Name Nayak as Fixed Income Head

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