A string of top managers have departed.
Sean Bates, who held senior roles at the firm since before the 2008 financial crisis, will be succeeded by James Davies, Deutsche Bank spokesman Charlie Olivier said Monday. Bates declined to comment.
A string of top managers have departed since Christian Sewing took over as chief executive officer last month and signaled a restructuring of the struggling lender after years of losses. The fixed-income trading unit, where Bates oversaw dealing in debts tied to riskier economies, is one of the businesses that bedeviled Sewing’s predecessor, John Cryan.
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