Chief information officer at Deutsche Bank, Neal Pawar, who reports to Bernd Leukert, head of technology, data and innovation, is set to leave the firm, Finance Magnates has learned.
Pawar had joined the bank less than a year ago from Connecticut-based investment management firm AQR Capital, in September 2019.
He worked in rates derivatives technology at UBS and was chief information officer at UBS Wealth Management earlier in his career.
Pawar also served for The D.E. Shaw Group earlier in his career.
The New York-headquartered asset management firm was founded in 1988 and has more than 1,400 employees around the world and an institutional-grade infrastructure, according to its linked in profile.
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No direct replacement
According to market sources, Pawar will not be replaced with a new group chief information officer. Instead, his role will be split between three existing employees.
Scott Marcar will become chief technology officer in addition to his current role as chief information officer for the corporate and investment bank.
Dilip Khandelwal will become chief information officer for corporate functions and remain in his current role as head of the technology entres and TDI APAC.
Gordon Mackechnie will be responsible for technology infrastructure and production.
People familiar with the matter said that Deutsche Bank is in the process of shaking up its technology function. In the fixed income trading business, the platform underpinning FX trading is being replicated across the whole of fixed income, they said.