Deutsche Bank appointed Grant Kvalheim president and chief executive officer of its U.S. securities subsidiary, filling a vacancy created last week by the resignation of C. Edward Carter.

Mr. Carter, who joined Deutsche Bank Securities Inc. in 1997 from Merrill Lynch & Co., left after it became clear he would not head investment banking in the Americas when the German bank completes its $10.1 billion merger with Bankers Trust Corp., a source close to the situation said.

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