Deutsche Bank was hit by a high-profile departure on the heels of its announcement that it plans to buy fellow German banking company Dresdner Bank.

Michael Dobson, head of the $590 billion-asset Deutsche Asset Management unit and a Deutsche Bank board member, will step down in June, the Frankfurt banking company said Friday. He has not announced what he plans to do after leaving Deutsche, an official at the company said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.