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Deutsche Bank faces more senior departures in Japan

Tokyo

DEUTSCHE Bank AG's top Japan dealmaker and chief operating officer have resigned, the latest senior managers in the country to leave the German firm, according to people with knowledge of the matter.

Keisuke Sueyoshi, 46, head of mergers and acquisitions at Deutsche Securities Inc in Tokyo, will formally depart later this year to join a competitor, the people said, asking not to be identified because there hasn't been any announcement. Japan COO Bret Dandoy, 54, retired at the end of August, the people said.

Deutsche Bank has lost several senior executives in Japan in the months since Christian Sewing became chief executive officer. Mr Sewing has pledged to restore profitability at Germany's biggest bank by cutting costs and focusing more on its home market.

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Japan chairman Norimichi Kanari, 71, stepped down from his post in June but will stay as a senior adviser until mid-2019, the people said. Country head Makoto Kuwahara is leaving to join Credit Suisse Group AG in November, while local asset management chief Daisuke Toki resigned in June to pursue opportunities outside of the group.

Tokyo-based spokeswoman Atsuko Yoshitsugu declined to comment on Mr Sueyoshi's departure. She confirmed Mr Dandoy and Mr Kanari's resignations after the brokerage removed their names from its board member list on its website. Tamio Honma is replacing Mr Kuwahara as Japan head, the company said in August.

Deutsche Bank is ranked 12th among advisers on mergers and acquisitions in Japan this year, data compiled by Bloomberg show. BLOOMBERG