US Deutsche Bank head to leave

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People are silhouetted next to the Deutsche Bank's logo prior to the bank's annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) – Deutsche Bank’s head of the Americas, Tom Patrick, is likely to leave the bank, possibly by the end of the year, two people with knowledge of the matter said yesterday.

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The change comes as Germany’s largest lender restructures its US business and struggles with regulators.

A US-based spokeswoman for Patrick declined to comment.

Deutsche Bank has made a raft of senior management changes this year, including its chief executive officer, as the bank seeks to become profitable after three years of losses.

Mr Patrick was appointed under Deutsche’s previous chief executive John Cryan. Deutsche has since announced plans to streamline its US operations, and it has failed a US Fed stress test.

Pressure is also growing on Sylvie Matherat, Deutsche’s Frankfurt-based chief regulatory officer, amid growing internal criticism, said two people with knowledge of the matter.

No move was expected, however, at the bank’s next supervisory board meeting in early December, said one of the people. The supervisory board makes decisions on senior management changes.

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