Deutsche Bank has appointed Mohamed Atmani as the head of its financial sponsors coverage in Asia Pacific from Swiss bank UBS, according to sources cited in Reuters today.

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The hiring is part of a reshuffle in the bank which is currently facing a multi-billion-dollar fine from US regulators as it tries to boost its flagging performance in corporate mergers and acquisitions and capital markets.

Just last week, Finance Magnates reported that the German lender was rumoured to be working on a public listing of its asset management division. This is one of several ideas being floated by the bank as it looks towards rebuilding its capital buffers and agreeing a $14 billion settlement with the DoJ for selling vast amounts of the residential mortgage-backed securities which turned out to be toxic and fuelled the 2008 financial crisis.

Atmani’s arrival may well be a timely appointment for troubled Deutsche Bank. He brings with him a wealth of experience having covered leverage finance at UBS and having previously worked at ABN Amro and Credit Suisse. Atmani will continue to be based in Hong Kong.