People News: Deutsche Bank, Sumitomo, Barclays

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Deutsche Bank’s head of global foreign exchange, Ahmet Arinc, is on leave, according to people with knowledge of the situation.

Bloomberg News reports that Arinc, who remains an employee of the bank and also oversees emerging-markets debt, wasn’t available for comment when contacted by phone.

The bank may replace him with an internal candidate, said the people who didn’t elaborate on the reason for his leave, asking not to be identified because the matter is private. A spokesman at Deutsche Bank in London declined to comment.

In the meantime, Bloomberg also reports that Sumitomo Mitsui Financial Group formed an investment-banking group in the U.S., part of a push to expand its mergers advisory business even as competitors from Nomura to Goldman Sachs move to curtail costs.

The bank’s brokerage unit hired Randy Gelber from Barclays to lead the group starting Monday, said Yoshihiko Shimizu, chief executive officer of SMBC Nikko Securitie. It’s the first time the firm will have a team that will originate deals in the Americas, he said. The bank will hire fewer than 10 senior bankers from competitors in coming months to build the team, Executive Managing Director Taneki Ono said in an e-mail.

Deutsche Bank Head of Global FX Arinc Said to Be on Leave

Sumitomo Mitsui Hires Banking Veteran Gelber to Lead U.S. Push

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