The head of Deutsche Bank's US investment bank is leaving in a big shake-up

Deutsche Bank has a new line-up at the top of its huge markets business, as the bank's CEO embarks on a massive restructuring plan.

The shakeup includes the appointment of Ram Nayak to head a new debt trading unit that will combine rates, credit, foreign exchange, emerging market debt and structured finance trading.

The appointment was announced in an internal memo sent to staff, according to a Deutsche Bank spokesman.

Nayak was previously head of structuring and chairman of emerging markets.

Tom Humphrey, who had been global head of credit and head of corporate banking and securities in the Americas, has decided to step down, according to people familiar with the situation. Humphrey is a Wall Street veteran who previously worked at Lehman Brothers. He joined Deutsche Bank just over a year ago.

Thomas Patrick has been named head of global equities, while John Pipilis and Chetankumar Shah have been named co-heads of global credit trading. Regionally, the markets business will be led by Zia Huque in the Americas, Michael Ormaechea in Asia Pacific, Tiina Lee in the UK and Dirk Schmitz in Germany.

Other key roles include Sam Wisnia, who will head rates in Europe and the Americas, and will head FIC structuring and strategic analytics, and Ahmet Arinc, head of foreign exchange and emerging market debt. Dixit Joshi will become head of the institutional client group for debt.

Restructuring

The appointments follow the restructuring of what was corporate banking and securities into global markets and corporate and investment banking. Colin Fan, who had had responsibility for sales and trading under the CB&S construct, left the bank, and equities specialist Garth Ritchie was appointed head of global markets.

The bank also named a new leadership line-up for the corporate and investment banking business on Thursday.

Deutsche Bank named John Cryan CEO in June, to replace Anshu Jain.

The German bank said it would take a number of steps to improve returns in the global markets business, including exiting the agency residential mortgage backed securities trading business. It also said it would rationalize a number of businesses in fixed income and currencies.