Deutsche Bank has appointed Orlando Faulks as its Head of Corporate Finance for Japan, a promotion that will see the group’s unit move forward under new leadership, per a recent Reuters report.
The announcement follows a rough week for Deutsche Bank, which began with a lackluster earnings report from the lender. This promptly caused concern after its CEO John Cryan warned that more cuts were needed, doubling down on the bank’s strategy to restore profitability.
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Mr. Faulks assumes the new role after working at Deutsche Bank as its Head of Research since 2007. He will only step into the position as Head of Corporate Finance for Japan in November, following a three-month transition at Deutsche Securities Inc, the group’s investment banking and brokerage arm in Japan.
His appointment also constitutes a replacement for Simon Roue who relocated to Singapore. Mr. Roue had been running Deutsche Bank’s corporate finance business in Japan since 2014, having since been elevated to the role of Head of Debt Capital Markets (DCM) for Asia Pacific (APAC).
Per the latest move, Mr. Faulks’ promotion paves the way for his Head of Research responsibilities to go to Masao Muraki, who joined the lender in 2010.