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Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm

Sarah Syed, Steven Arons, Kelsey Butler
Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm

Deutsche Bank AG said three senior investment bankers are departing as the German lender retreats in the advisory and underwriting businesses. Alasdair Warren, who helped run the firm’s investment bank in Europe, as well as Scott Sartorius and Christopher Blum, the two heads of its U.S. leveraged finance business, are leaving, according to separate memos to staff. Deutsche Bank’s investment banking unit has seen a number of departures as new Chief Executive Officer Christian Sewing scales back certain areas of the business, particularly in the U.S. and Asia, to combat low profitability.