Deutsche Bank to restructure corporate, investment banking

Global Capital Markets division will be headed by Alexander von zur Muehlen, Mark Fedorcik

Deutsche Bank is creating a new combined debt, equity and leveraged capital markets business within the investment bank as it focuses on corporate clients, according to a copy of a memo seen by Bloomberg.

The bank also detailed the division of responsibilities between Marcus Schenck and Garth Ritchie, co-heads of the newly-combined investment banking and trading units. Schenck will focus on clients and oversee corporate finance, global capital markets and the institutional client group, while Ritchie will deal with products and processes and oversee operations including equities, fixed income and currencies, the email said.

The two executives are tasked with striking a balance