Mauricio Noe, formerly head of covered bonds at Royal Bank of Scotland Group PLC, has left the company and will join Deutsche Bank AG later this year, people familiar with the situation said.

A spokeswoman for Deutsche Bank declined to comment.

A spokeswoman for Royal Bank of Scotland declined to comment on Noe's departure, but said that the company "has a very strong and experienced team which covers all aspects of the covered bond business, which remains a cornerstone of our debt capital markets franchise."

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